Ethereum Whales Increase Accumulation as ETH Falls Below Their Cost Basis
Ethereum (ETH) has dropped to around $1,976, down 4.25% over 24 hours and nearly 13% for the week, pushing the price below the cost basis at which large whale addresses began accumulating in June 2025. On-chain tracker CryptoQuant and analyst CW8900 report that despite unrealized losses, whale accumulation has accelerated — a pattern highlighted by Coin Bureau — suggesting strong conviction among major holders. Market cap sits near $238.4 billion. Short-term charts show continued selling pressure (one‑hour loss ~0.56%), but increased stacking by whales may signal expectations of a future rebound. Key takeaways for traders: ETH is trading below realized/whale cost basis (potential support/resistance implications), whale buying may reduce sell-side liquidity and precede a recovery, but current momentum is bearish across short and weekly timeframes. Primary keywords: Ethereum, ETH, whales, accumulation, cost basis. Secondary/semantic keywords: realized price, CryptoQuant, market cap, on‑chain data, short-term selling pressure.
Neutral
The report describes two offsetting forces: bearish price momentum (daily and weekly declines, short-term selling pressure) and intensified whale accumulation beneath their cost basis. Short-term impact is likely bearish as momentum and realized losses can prompt further selling or volatility. However, accelerating accumulation by large holders reduces available sell-side supply and historically can precede recoveries or sustained rallies once broader market sentiment stabilizes. Similar past episodes (e.g., BTC or ETH drawdowns where address-level accumulation rose during dips) showed that aggressive whale buying can mark local bottoms but does not guarantee immediate upside — markets often need a catalyst (macro news, network fundamental improvement, liquidity shift) to reverse. For traders: expect heightened volatility, watch on‑chain metrics (whale inflows, exchange flows, realized price) and order‑book depth; short-term strategies should manage risk (tight stops, reduced leverage), while swing traders may track accumulation thresholds as potential support zones for entries.