Ethereum Falls to $1,930 as Whales Increase Accumulation Below $2,000

Ethereum dropped below $2,000 on Feb. 11, 2026, reaching intraday lows of $1,930 after a 3% decline in 24 hours that followed Bitcoin's retreat below $67,000, CoinJournal reports. CryptoQuant data show large Ethereum holders have steadily increased positions since July 2025, with accumulation addresses seeing record inflows even as ETH fell from its peak and recently dropped below the realized value of these wallets. Exchange balances are at multiyear lows as whales continue buying while retail investors sell, and Bitmine Immersion Technologies has accumulated over 4.3 million ETH at an average of $2,125, staking about 2.97 million ETH, or more than 68% of its holdings. Analysts cited in the report say aggressive buying below realized prices reflects longterm conviction, pointing to shrinking outflows from Ethereum spot ETFs since the $1.4 billion in monthly redemptions in November 2025 and total net assets now above $11.7 billion.