Dormant Ethereum Whale Buys $28M ETH, Spurs Bullish Rally
A dormant Ethereum whale reactivated during the recent correction, withdrawing 6,334 ETH from Kraken to capitalize on the drop from $5,000 to $4,315. This Ethereum whale accumulation reduced open-market supply as on-chain outflows hit a nine-year low, reinforcing bullish sentiment. Another Ethereum whale moved 20,000 ETH from Bitstamp to self-custody, while mining firm BitMine added $252 million in ETH—raising its holdings to 797,704 ETH. A single investor staked $2.55 billion via Hyperliquid, and spot Ethereum ETF inflows topped $1 billion since August 21. On-chain data shows a V-shaped recovery from summer lows near $3,350, breaching $4,000 resistance. Technical forecasts target $7,500 by year-end, with upside scenarios to $10,000–$20,000. Traders should monitor whale transactions and ETF flows as key market momentum indicators.
Bullish
Significant Ethereum whale accumulations, record low exchange netflows, and robust spot ETF inflows signal diminished sell pressure and rising demand. In the short term, reduced open-market liquidity amid large whale buys can amplify price upside, supporting stability above key levels. Long term, sustained institutional adoption through ETFs and staking suggests solid market confidence and a higher valuation range. Traders should track on-chain whale addresses and ETF flows as primary indicators of bullish momentum.