Ethereum Whales Buy as Supply Tightens, Signaling Rebound
Ethereum whales ramp up accumulation as supply tightens. On-chain data shows large wallets holding over 1,000 ETH added 120,000 ETH in the past week. Meanwhile, exchange reserves fell to a six-month low of 16.5 million ETH, removing sell-side pressure. This surge in Ethereum whales’ purchases suggests growing confidence in a price rebound for ETH. Traders may view reduced exchange holdings and increased accumulation as bullish signals. However, Bitcoin’s volatility and macroeconomic trends could influence near-term gains. Monitoring whale activity alongside order-book dynamics will be crucial. These developments point to potential upside for ETH in the coming sessions.
Bullish
Whale accumulation reduces available ETH on exchanges, cutting sell-side pressure and increasing buy-side demand. Historically, large-scale whale buy-ins—such as those seen in Q1 2023—preceded significant ETH rallies. With exchange reserves at a multi-month low and major addresses adding substantially to their holdings, immediate demand pressure is bullish. In the short term, this could lift price toward key resistance levels as traders follow whale cues. Over the longer term, sustained whale interest and tighter supply support upward momentum, provided macro conditions remain favorable. However, Bitcoin volatility and broader market sentiment should be watched.