Anonymous Whale Buys $1.34B ETH in 8 Days as Supply Hits Lows

A mysterious whale wallet has accumulated $1.34 billion worth of Ethereum (ETH) over the past eight days, marking one of the largest single-entity buys this year. This surge of demand coincides with Ethereum’s supply on exchanges falling to all-time lows, suggesting long-term holding and reducing available ETH for sale. High-profile institutional participation and over-the-counter (OTC) trades are speculated to be behind these large acquisitions. Ethereum has gained more than 200% since April, emerging as the top performer in the crypto market. On-chain indicators point to a looming “supply shock,” where rising demand collides with tightening liquidity, potentially driving prices higher. ETH is currently trading around $4,283, up 0.73% weekly, and is testing a critical resistance zone between $4,300 and $4,400—levels last seen in 2021. Technical analysis shows ETH comfortably above its 50-, 100-, and 200-week simple moving averages, confirming a strong bullish trend. A decisive break above the $4,400 ceiling could trigger momentum buying and new all-time highs. Conversely, failure to clear this zone may lead to a pullback toward $3,860 or even $3,200 if selling pressure intensifies. With volume rising and institutional interest strengthening, the coming days will be pivotal in determining Ethereum’s next price trajectory.