Ethereum Whales Buy $200M ETH, Hint at Bullish Reversal
Ethereum whales are capitalizing on the recent price slump by purchasing roughly $200 million worth of ETH in a single transaction, according to Arkham Intelligence data. Two newly created whale addresses acquired about $192 million ETH from BitGo, underscoring strong buy-the-dip activity. Despite broader market weakness led by Bitcoin, this surge in large-scale accumulation highlights growing institutional interest and long-term conviction in Ethereum . Historically, similar whale buy-the-dip events have preceded price recoveries by tightening exchange supply and boosting retail confidence. Traders and analysts now anticipate that this whale-driven buying spree could mark the start of a bullish rebound in ETH prices.
Bullish
Large-scale whale accumulation often signals strong market conviction and can tighten circulating supply on exchanges, creating upward price pressure. In past instances—such as major ETH whale buys in early 2023—significant dips were followed by rapid recoveries as retail traders gained confidence and institutions reaffirmed their positions. The $200 million purchase from BitGo underscores renewed institutional interest in Ethereum despite broader crypto weakness led by Bitcoin. This pattern suggests a potential bullish reversal in the short term, while continued accumulation by whales could support a sustained uptrend over the long term.