ETH Whales Buy $1.62B 5-Mo Low; Reserves Drop, ETH Eyes $3K
Ethereum whales and institutional traders have ramped up buying at recent dips, adding over 385,000 ETH (~$1.38B) per Arkham Intelligence and placing fresh orders worth $241.8M. The “66,000 Borrowed Whale” deposited $162.8M in ETH into Aave V3, while three others bought 9,974 ETH on Binance. Tom Lee’s BitMine added 110,288 ETH this week, including 17,242 ETH from FalconX and BitGo, bringing its holdings to 3.5M ETH ($12.5B).
Exchange reserves have fallen to a 55-month low of 15.6M ETH, tightening sell-side liquidity. On the daily chart, ETH is retesting its 100-day SMA at $3,450; a breakout could trigger a V-shaped recovery toward $4,172. However, bearish signals—Stochastic Momentum Index at -74.69 and an Advance-Decline ratio below 1—indicate downside risk to $2,535. Traders should monitor whether sustained whale demand can drive ETH back above $3,000.
Bullish
Heavy ETH accumulation by whales and institutional players has driven exchange reserves to a 55-month low, signaling strong underlying demand that often precedes price gains. Combined with technical catalysts such as a test of the 100-day SMA at $3,450 and potential wedge breakout toward $4,172, this underscores short-term bullish momentum. Although bearish indicators like a negative Stochastic Momentum Index and low Advance-Decline ratio highlight risk of a drop to $2,535, sustained whale demand could tip the scales toward an ETH rebound above $3,000. Overall, the balance of whale activity and tightening supply points to a bullish outlook for ETH in both the near and medium term.