ETH Whales Buy Again as Mega Whales Pause, Rally Uncertain

Published: 2025-09-04 12:22:26 |

On-chain data reveal diverging ETH whales behavior. Current ETH whales demand remains robust among large whales (1,000–10,000 ETH), who have added 400K ETH this month, while mega whales (10,000+ ETH) paused after adding 2M ETH in August. ETH trades at $4,420, under the key $4,500 resistance, with a 24h volume of $31.6 billion. BitMine and three new wallets via FalconX bought 79,662 ETH (worth ~$349 million) despite slowing ETF inflows. Key support levels are $4,274, $4,213, $4,080 and $3,900–3,600. Without renewed mega whale buying, upward momentum may stall, making the next ETH rally uncertain.

Neutral

The mixed signals from ETH whales point to a neutral market impact. Large whales’ renewed buying supports short-term stability, but mega whales’ pause caps strong upside. ETH trading below $4,500 resistance and slowing ETF inflows limit bullish conviction. Similar divergence in whale behavior during past consolidation phases led to range-bound price action. Without fresh accumulation from top holders or institutional catalysts, traders should expect sideways movement in the short term, while a meaningful rally requires renewed whale inflows or improved macro conditions.