Where is ETH headed next? Market Snapshot for January 16

Ethereum is currently under mounting pressure as major investors begin retreating from the market. The signs are becoming clearer through data we're tracking.

Here's what the numbers reveal about whale movements and their current positioning across both spot and derivatives markets:

Our CVD Whale Tracking indicator shows the flow patterns of large-cap holders. Meanwhile, the Whale Dominant metric helps us understand where institutional money is really concentrated. These two tools paint a picture of what could happen next for ETH price action.

When whales start moving their positions like this, it typically signals a shift in market sentiment. Whether this leads to a sharper pullback or consolidation phase depends on how quickly these players can exit their holdings without triggering major slippage.