Bitcoin Whale’s $34.8M BTC-to-ETH Shift Fuels Ethereum All-Time Highs Rally
Ethereum price is pushing toward new all-time highs as a major Bitcoin whale converted 300 BTC (~$34.8 M) into ETH positions. Whale accumulation bolsters the case for fresh Ethereum all-time highs.
On-chain data from Lookonchain shows this investor now holds 135,265 ETH in long contracts and 122,226 ETH in spot, with unrealized gains exceeding $100 M. Heavy trading between $4,200 and $4,400 has established a solid support zone.
Analysts, including Lennaert Snyder, identify buy zones at $4,300 and $4,640. Resistance at $4,880 must be reclaimed to confirm a breakout. Whale accumulation and trade volume spikes signal strong bullish momentum. Traders should monitor liquidity bands and follow-through buying above $4,880 for near-term crypto trading strategies.
Bullish
The large-scale conversion of 300 BTC into ETH increases on-chain position concentrations and unrealized profits, mirroring past whale-driven rallies that preceded significant price breakouts. Heavy volume between $4,200 and $4,400 has cemented a demand zone, while targeted buy zones at $4,300 and $4,640 reflect institutional interest. Reclaiming $4,880 would validate a bullish breakout, likely triggering short-term momentum and reinforcing long-term confidence in Ethereum’s price trajectory. Traders observing similar patterns have historically capitalized on follow-through buying after whale accumulation, supporting a bullish outlook.