Ethereum Whales Go on Massive Buying Spree as Market Aims for $5,000 Breakout
Ethereum's big players are loading up—and they're betting big on a major price surge.
The Accumulation Game
Whale wallets have been snapping up ETH at an accelerated pace, creating substantial buying pressure just as the asset approaches a critical resistance level. Their movements suggest institutional confidence in Ethereum's near-term trajectory.
The $5,000 Threshold
All eyes now focus on that psychological $5,000 mark—a level that could trigger another explosive rally if decisively broken. Market sentiment leans bullish, though traditional finance skeptics remain... well, skeptical. They’re probably still waiting for their fax machine to confirm the transaction.
This isn't just retail FOMO—it's strategic positioning by players with deep pockets and even deeper conviction.
- Ethereum whales accumulate $450 million worth of ETH, signaling strong confidence in the asset’s future.
- ETH faces tough resistance near the $5,000 mark, with bearish divergence raising caution.
- Derivatives activity cools as trading volume and open interest decline, showing reduced short-term speculation.
Ethereum is showing renewed strength in the market as whales accumulate more holdings. While the asset maintains a bullish outlook, analysts warn that key resistance levels remain difficult to surpass.
At the time of writing, ETH is trading at $4,624, with a $558.83 billion market cap and $85.72 billion in 24-hour trading volume. The ETH has gained 4.13% in the past day, marking another step in its ongoing upward momentum.
Ethereum Whales Buy $450 Million ETH
Fueling more excitement, well-known crypto on-chain analyst Ash Crypto revealed that nine top ethereum addresses purchased ETH worth $450 million. The magnitude of this accumulation has been compared to one of the most bullish whale buying sprees on Ethereum to date.
BREAKING:
9 WHALE ADDRESSES JUST BOUGHT $450 MILLION WORTH OF ETHEREUM.
THESE WHALES ARE BUYING $ETH LIKE NEVER SEEN BEFORE IN HISTORY. pic.twitter.com/WZ32C0NJSl
Ethereum Faces Resistance as Bearish Divergence Emerges
At the same time, analyst Kurnia Bijaksana pointed out a less optimistic outlook. He explained that Ether had just tested its all-time high and failed to break through the $5,000 psychological level.
Although the asset still maintains a bullish chart formation, with no lower lows being made yet, he noted concerns about a bearish divergence between ETH’s price and its RSI indicator, which might suggest that momentum is losing steam.
At present, Ether remains technically strong, but analysts are urging vigilance regarding resistance areas and momentum indicators. As long as whales continue buying on a large scale, ETH may be building momentum for another attempt at a new record, though signs of rally fatigue could warrant short-term caution.
Ethereum Derivatives See Pullback in Activity
Ethereum derivatives have slowed, with both trading volume and open interest declining. Volume fell by 29.40% to $145.92 billion, indicating decreased short-term trading activity. Open interest also fell marginally by 0.01% to $63.12 billion, suggesting traders are holding fewer positions than in the previous session.
The OI Weighted funding rate stands at 0.0007%, which indicates a neutral position among traders. This means that the market is neither bullish nor bearish, with positions evenly spread between longs and shorts. This kind of stability can indicate that traders are holding back for a more defined direction of the price before entering larger transactions.
