Ethereum Whales Go Bargain Hunting: Strategic Moves Amid Market Dip

Smart money doesn’t panic—it pounces. Ethereum’s biggest holders just turned a market slump into a buying spree, stacking ETH at prices that’ll make retail traders wince.

Subheader: The Whale Playbook

While Main Street investors hyperventilate over red candles, crypto’s institutional players are executing cold-blooded accumulation strategies. On-chain data shows nine-figure wallets loading up—no emotion, just calculated entries.

Subheader: Dip? More Like Discount

These aren’t your grandma’s ‘buy the dip’ tweets. We’re talking OTC desk maneuvers and dark pool trades that move markets. The irony? The same leverage liquidations creating this fire sale were probably triggered by whale positions to begin with.

Subheader: The Cynic’s Corner

Meanwhile, your average crypto bro is still waiting for ‘the bottom’—right after he finishes explaining to his wife why their vacation fund is now a leveraged long position. Some things never change.

Over the past 24 hours, Ethereum’s (ETH) price experienced a 3.3% decline, dropping to $3,331 and falling below the crucial $3,400 support level. Despite the selling pressure, blockchain data reveals that large investors are capitalizing on this dip. A total of 394,682 ETH, valued at approximately $1.37 billion, were accumulated by whales within the $3,247 to $3,515 range, indicating strategic positioning amid short-term technical weakness.

Technical Overview of Ethereum

Following a retracement around $3,415, ETH lost its $3,400 support, intensifying its downward momentum. According to CoinMarketCap data, price action confirmed a bearish trend marked by lower peaks, with the heaviest selling occurring at 6 PM on November 6th. During this time, trading volume soared to 539,742 ETH, surpassing the 24-hour average by 145%. This sharp increase in volume suggests that institutional-scale transactions were steering the market rather than individual investor sales.

The altcoin giant attempted to retest the $3,350 resistance during the final part of the trading session but failed. The downward structure from the previous peak at $3,920 continues to maintain a compromised technical outlook.

Whale Activity and Blockchain Dynamics

Amid intense selling, a notable contrast emerged. Blockchain data reveals that large addresses amassed 394,682 ETH, primarily within the $3,247–3,515 range. This scenario suggests that major players view the decline as a long-term entry opportunity.

In terms of fundamental indicators, the number of active daily addresses has decreased by 24% since mid-August. However, Ethereum’s network transaction capacity reached an all-time high of 24,192 transactions per second. Analysts believe that maintaining support at $3,247 could bring short-term price stability, while surpassing $3,480 could alleviate selling pressure.