Ethereum’s price dipped after Harvard University moved $86.8 million out of the asset, adding to a growing wave of institutional exits. The cryptocurrency is now testing a support level at $1,700, with whale short positions piling on the pressure.
Harvard’s $86.8M Exit
Harvard University sold off its Ethereum holdings this week, unloading $86.8 million worth of the asset. The move, disclosed through on-chain data, comes as institutions continue to reduce their crypto exposure. No official statement from Harvard was released, but the transaction was visible on the blockchain within hours.
Institutional De-Risking Intensifies
Harvard’s exit isn’t happening in a vacuum. Institutional sell-offs and whale short positions are both increasing, putting steady de-risking pressure on Ethereum’s $2,000 support level. That level had held for weeks, but the combined selling has pushed ETH below it, and the $1,700 support is now in play. The timing isn’t great for bulls — short positions are mounting, and there’s no obvious catalyst to reverse the trend.
What’s Next for ETH
Ethereum is currently testing $1,700, a level that traders have watched closely. Whether it holds or breaks will likely depend on whether more large holders follow Harvard’s lead. Right now, the market is watching for any further whale movements or institutional announcements that could tip the balance.
