Ethereum Mega Whales Go on Buying Spree—Bullish Breakout Imminent

Ethereum's biggest players are loading up—and the charts are screaming breakout.

Whale wallets holding 10K+ ETH just hit a 6-month accumulation high. These crypto titans don't move without reason—their buy orders often precede major price surges.

Technical indicators flash green: ETH's weekly RSI just crossed bullish for the first time since January, while exchange reserves plummet to levels last seen before the 2024 rally.

Meanwhile, Wall Street 'experts' still can't decide if crypto is 'digital gold' or a 'speculative bubble'—classic hedge fund paralysis while the smart money positions.

One thing's certain: when whales feed, retail traders feast... or get eaten.

Mega Whales Add Over 3.5 Million ETH Since October 2024

According to on-chain data from Glassnode, these mega whale wallets have increased their holdings by 9.31% between October 2024 and July 2025, growing from 37.56 million ETH to 41.06 million ETH. This marks the most intense accumulation since 2022. By comparison, before Ethereum’s 95% price surge in 2022, the increase in holdings by these same wallets was around 4% to 5%. The fact that accumulation is happening now, despite ETH prices hovering around $2,600 with relatively low volatility, signals strategic positioning by sophisticated market participants.

Accumulation Levels Mirror Pre-2020 Bull Run

Historically, this kind of whale activity tends to precede major price movements. In late 2020, a similar accumulation phase took place when Ethereum quietly surged from $460 to $1,220. The current trend looks familiar, with large holders quietly building their positions without triggering major price spikes. This behavior suggests that mega whales expect a price breakout in the near to mid-term and are positioning themselves before it becomes obvious to retail investors.

Bullish Pattern on the Charts: Bull Pennant in Focus

Technical analysis of Ethereum’s price also supports a potential breakout. The ETH price chart is showing a bull pennant—a continuation pattern that often results in a sharp upward move. If this pattern plays out, Ethereum could climb to $3,400 by August, and potentially reach $5,000 by the end of 2025, provided that broader macroeconomic conditions remain favorable. This technical formation, paired with strong on-chain signals, increases the probability of a bullish scenario.

Strong Support Zone Forms Around $2,500

Another key element backing the bullish outlook is the establishment of a robust support zone. Glassnode reports that more than 3.45 million ETH has been acquired in the narrow range between $2,500 and $2,536, indicating significant long-term investor confidence. This cluster of acquisition prices has formed a solid base, offering downside protection and reinforcing the likelihood of a sustainable uptrend from current levels.

Institutional Interest Builds Through Ethereum-Based ETFs

Ethereum is also benefiting from renewed interest from institutional investors. Capital inflows into ETH-focused investment funds and exchange-traded products (ETPs) have picked up, especially as regulatory frameworks begin to evolve. Institutional investors are increasingly treating Ethereum not just as a cryptocurrency, but as a Core infrastructure asset for decentralized finance (DeFi), non-fungible tokens (NFTs), and real-world asset (RWA) tokenization.

Why This Accumulation Matters More Than Ever

The current Ethereum accumulation is more significant than in previous years due to several converging factors. First, the scale and speed of accumulation by mega whales are greater than before. Second, it’s happening in a low-volatility, low-noise environment, suggesting coordinated action by informed market players. Third, it aligns with positive developments in Ethereum’s ecosystem, including staking growth, LAYER 2 scaling adoption, and network upgrades.

Cautious Optimism Amid Market Volatility

While the signs point to a potential bullish breakout, analysts remain cautiously optimistic. Ethereum, like the broader crypto market, is still susceptible to macroeconomic risks, including interest rate decisions, inflation data, and regulatory shifts. However, the combination of whale accumulation, strong technical indicators, and institutional inflows creates a compelling case for Ethereum entering a new bullish phase.

Conclusion: Ethereum May Be Poised for a Quiet Comeback

In the midst of attention on Bitcoin and other trending tokens, Ethereum is quietly building strength behind the scenes. The 9.31% increase in holdings by mega whales, strong support levels, and bullish technical patterns all suggest the market could be on the verge of a major move. While no forecast is guaranteed in the crypto space, current conditions reflect the kind of early accumulation phase that has historically led to explosive growth. Investors and analysts alike will be watching closely to see if Ethereum repeats its past and leads the next leg of the crypto bull market.