Ethereum Whales Just Snapped Up 210K ETH – Here’s Why This Could Be the Ultimate Buy Signal You’ve Been Waiting For
So, here’s the million-dollar question—are the crypto whales giving us a wink and nudging that Ethereum bottom is finally in? Ten colossal whale wallets just snatched up a whopping 210,000 ETH at a slick $4,100 average, quietly setting the scene for what might be a clean slate as the weak hands scramble for the exits. But wait—what’s the institutional crowd doing amidst all this? Well, they’re showing some serious cold feet, pulling $290 million out of ETH ETFs amid swirling FUD that keeps the big money sitting on the sidelines. The market’s caught in a tug-of-war: whales betting on a reset, institutions hesitant to dive in, and traders chopping positions fast–not exactly a cocktail for a roaring rebound just yet. ETH’s price has taken a dive off its lofty highs, profit-taking is in full swing, and the charts are screaming “shakeout.” Could this be the classic “healthy reset” that sets the stage for the next surge, or is the uncertainty too thick to get behind? The answer’s out there, hiding in the interplay between on-chain moves and market sentiment. Ready to uncover the full picture? LEARN MORE
Key Takeaways
Are whales signaling a bottom in ETH?
10 whale wallets scooped 210k ETH at $4,100, supporting a potential reset as weak hands exit.
Is institutional capital backing the rebound?
ETH ETFs saw $290 million outflows and FUD keeps big money cautious, limiting near-term upside.
The market’s split on whether Ethereum [ETH] has bottomed. Price-wise, it’s wiped out all late-August and September gains, sitting about 20% off its $4,900 all-time high.
Most of the profit from the top is already in the books.
In fact, ETH’s realized profit hit a four-year high of $2 billion on the 18th of September at $4,589. That’s a hefty 1.84 million in sell-off, showing short-term gains have already been taken off the table.
Simply put, ETH looks like it’s gearing up for a clean reset. Supporting this shift, Lookonchain flagged 10 whale wallets that accumulated 210k ETH for $862.85 million, at an average cost basis of $4,100/ETH.
In short, whales are backing the reset thesis, with on-chain signals aligned.
On the charts, ETH has shed over 9.3% this week, posting its worst weekly outflow in almost two months. Historically, pullbacks of this size often spark strong rebounds, hinting at a classic weak-hand shakeout.
Meanwhile, as AMBCrypto flagged, Ethereum’s post-liquidation flush ran 3x deeper than Bitcoin [BTC], resetting positioning across derivatives. So the key question now: Is ETH weekly drawdown just a “healthy reset”?
Ethereum FUD drags on market conviction
Looks like institutional capital and smart money aren’t seeing eye to eye.
ETH ETFs have seen three straight days of $290 million outflows, the biggest since the $1 billion exodus in the late-August/early-September cycle. Clearly, institutions are taking chips off the table while whales are stacking.
In short, FUD is still capping big money from fully committing to the “dip.” Backing this, ETH’s realized losses hit a two-month high of $300 million on the 22nd of September, showing underwater HODLers are exiting.
Simply put, traders are cutting positions, not HODLing through the dip.
According to AMBCrypto, this reflects low conviction on near-term upside. Historically, though, setups like this often mark ETH bottoms, as weak hands exit and coins flow into stronger holders.
Whale accumulation confirms this trend, though the lack of institutional support may keep the rebound muted.
With volatility still elevated, any sudden spikes in leverage could trigger pressure, capping ETH’s next leg.
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