Ethereum facing massive sell-offs

What happen on that Ethereum facing massive sell-offs selling pressure! Order Book is down $335 million, indicating the biggest “selling wall” in history.

Data Ethereum facing massive sell-offs

Today (July 24, 2025), Web2 guy Twitter user @exitpumpBTC revealed some interesting information about the state of the crypto market, especially in the Ethereum (ETH) sector. He stated that the Order Book Depth Delta is currently at its most negative level in history, meaning that there are too many Ethereum sell orders (Passive Asks) compared to the market buy orders.

The chart posted shows a 12-hour snapshot of the ETH/USDT pair on the Binance crypto exchange, with a breakdown of buy and sell orders at different price levels. Another chart shows the order book depth, which shows that the spot market has a combined spread of -335.73 million dollars, and the perpetual futures and futures market has a spread of -47.52 million dollars. An interesting observation is the sudden drop, which indicates massive selling pressure in the market.

Analysts believe that a negative depth at this level indicates that selling pressure is significantly greater than buying pressure, creating a so-called “sell wall.” If buying pressure is not strong enough to absorb sell orders, ETH’s price could fall in the short term. Some users say that this situation may be suitable for opening a short ETH position for speculation, while others think that other fundamental factors should be considered, such as Ethereum’s network upgrade and acceptance by financial institutions or large organizations.

There are also questions from followers about the meaning of the term “Negative Order Book Depth Delta”, which means that the total volume of sell orders is much higher than the buy side, reflecting the pressure on the sell side that has the potential to push the price down. Although analyzing data from the Order Book helps assess the liquidity and direction of the market, experts recommend that it should be used in conjunction with other factors, such as price chart analysis, trading volume, and important news for accurate investment decisions.

Ethereum facing massive sell-offs Summary

On July 24, 2025, the Ethereum (ETH) market experienced a massive sell-off, with the order book depth reaching its all-time low of -$335 million on the spot market and -$47.5 million on the futures market, reflecting a large “sell wall”, where there are a large number of accumulated sell orders waiting but not enough buying power to absorb them. This situation could put downward pressure on the price of ETH in the short term. Some analysts suggest that this is an opportunity for short positions, while others suggest considering other fundamental factors, such as Ethereum network upgrades or institutional acceptance. Overall, experts recommend using order book data in conjunction with other factors to make more accurate investment decisions.

Reference: Verster Community

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