Ethereum has been one of the most powerful performers in the Crypto Market for the past two months, steadily surgening to reach a new all-time high just a few days ago. The rally strengthened Ethereum’s role as a major altcoin, attracting both the system’s attention and retail speculation. But the landscape is changing as sales pressure creeps up. Some analysts warn that ETH may be exposed to further downside risks in the coming days, and that ETH is also at risk of downside risks as it tests investor confidence after such aggressive driving.
But concerns are rising, but on-chain data reveals that whales continue to accumulate at scale. According to Arkham, the large whale, which holds $5.97 billion in Bitcoin, is currently purchasing $434.7 million worth of ETH. Just yesterday, the whale moved $1.1 billion to a new wallet (169Q) and actively purchased ETH through the hyper unit. In total, he has accumulated over $3 billion in ETH, which plagues the majority.
The tug of war of this war between sales pressure and whale accumulation sets the stage for a key moment in the trajectory of Ethereum. The next few days will reveal whether the whales are strong enough to continue supporting ETH, or if further setbacks are waiting.
Whales bet billions of dollars on Ethereum as capital rotation grows
According to Arkham, one of the largest whales on the market currently buys more than $3 billion in Ethereum (ETH), which plagues the majority. The activity highlights the growing capital rotation trend from Bitcoin to Ethereum, which has attracted attention from both analysts and investors. The Whale, who initially owns $5.97 billion in BTC, is gradually changing his position, deploying large funds through the hyper unit. His BTC address (169Qyzjykyw7hmwtj58mvxrzdhmfhpzpd) and ETH address (0x6167679C5305A89F1348134C68101061CF0BA9E) are closely tracked in the market as an investor.
After moving $1.1 billion of BTC into a fresh wallet, the whale has already purchased $434.7 million of ETH, increasing his massive accumulation and continued confidence in Ethereum’s future. The majority of these holdings are piled, reducing liquid supply, highlighting long-term outlook rather than short-term speculation.
Well, the problem remains. Will he buy the next $650 million today? If so, additional demand could provide strong support for Ethereum, despite the signs of short-term price action. More importantly, this capital turnover trend is a clear indication that Altcoins are preparing for their turn. As investors turn from BTC to ETH and beyond, the foundation of a wider Altcoin cycle appears to be formed, setting the stage for advanced volatility and opportunities in the coming weeks.
Testing key demand levels
Ethereum (ETH) trades around $4,369, showing signs of integration after weeks of sharp gatherings and subsequent setbacks. The chart highlights how ETH has been cooled down to nearly $4,900 from its recent all-time high, but it firmly surpasses the key moving average that continues to lead bullish structures.
The 50-day moving average, which is currently close to $4,372, serves as immediate support and has been tested multiple times in recent sessions. Beyond this level is key to maintaining short-term momentum. Meanwhile, the 100-day average is around $3,962 and the 200-day average is $3,257, strengthening the long-term bullish trend, suggesting that deeper pullbacks are likely to fill strong purchases.
However, Ethereum’s inability to push back highlights above $4,600 is holding back momentum in the short term. With profits, wider market uncertainty slowed the pace of profits, making ETH vulnerable to further integration. A critical break below $4,350 could open the door to $4,000 as the next major demand zone.
Ethereum remains on a healthy upward trend, but the market is clearly waiting for a fresh catalyst. Whether it’s whale accumulation or wider facility flow, ETH needs updated purchase pressure to retest highs above $4,800.
Dall-E special images, TradingView chart
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