ETH 1-hour down 0.71%: Large fund outflows and surge in trading volume trigger sustained selling pressure

From 2026-04-02 01:00 to 2026-04-02 02:00 (UTC), the ETH price experienced a rapid decline, with a return rate of -0.71%. The candlestick price range was between 2121.0 and 2156.17 USDT, with an amplitude of 1.63%. During this period, market attention significantly increased; along with heightened volatility, this reflected a surge in short-term trading activity by investors.
The primary drivers of this price movement were active fund outflows from large-holding addresses. Data shows that the top ten holding accounts net outflow approximately 75,000 ETH within one hour, with transfers mainly directed to a major exchange, intensifying selling pressure in the market. Meanwhile, on-chain trading volume surged to about 1.75 million ETH, a 45.8% increase from the previous hour, amplifying the downward trend and indicating that a large amount of selling pressure was concentrated and released in a short period.
Additionally, on-chain DEX trading activity was notably active. The number of swaps involving ETH and stablecoins such as USDT and USDC on major DEX platforms increased significantly, suggesting that risk-avoidance sentiment was rising, and some investors opted to exchange into stablecoins to hedge against short-term risks. During the same period, network Gas fees remained high, averaging around 42 Gwei, indicating frequent high-priority large transfers, which further amplified market volatility. Multiple factors resonated simultaneously, rapidly pushing ETH prices downward and testing new support levels.
Furthermore, the network Gas fees staying elevated and the frequent occurrence of large transfers at high priority further intensified market fluctuations. The convergence of these multiple factors quickly drove ETH prices down and tested new support zones.
Currently, short-term market volatility remains relatively high. Changes in holdings distribution and the trend of capital flowing into stablecoins warrant ongoing attention. Going forward, it is crucial to closely monitor the fund movements of large-holding addresses and on-chain activity levels, observe the support around the 2120 USDT level, and keep an eye on network fee rates and macroeconomic policy news. Caution is advised regarding further declines caused by trading congestion or a new wave of selling. Tracking market anomalies and data trends will be vital for understanding future market movements.