Despite the declining prices, major whales continue to purchase hundreds of thousands of ETH, igniting hopes for a short-term market recovery.
Key Points:
One Ethereum whale has increased its holdings by $1.3 billion in ETH, signaling accumulation.
Whales, BitMine, and ETFs have collectively increased their holdings by billions of dollars in ETH, reinforcing bullish market demand.
A V-shaped rebound pattern is beginning to emerge, with ETH price targets aimed directly at $4,000.
In response to the market adjustments over the past week, Ethereum whales seized the opportunity to enter the market as ETH prices fell to $3,000.
According to Arkham Intelligence data, a mysterious whale has accumulated over 385,000 ETH in the past 10 days, valued at approximately $1.38 billion.
The blockchain analysis platform noted on Wednesday on the X platform: "This whale currently holds $563.9 million worth of ETH directly through spot purchases, while also having a loan position worth $818.7 million on AAVE." The platform added:
According to Arkham Intelligence's analysis, this whale has also borrowed $270 million in stablecoins from the decentralized lending platform Aave, possibly to further expand its ETH position.
"In addition to this whale, Lookonchain discovered another whale also borrowing to buy ETH," which deposited 83,816 ETH ($288.6 million) on Aave and borrowed $122.89 million in stablecoins.
Besides the #66kETHBorrow whale, another whale 0x9992 is also borrowing to buy more $ETH! 2 hours ago, 0x9992 borrowed 10M $USDC from Aave to buy 2,909 $ETH. He currently has 83,816 $ETH ($288.6M) deposited on Aave and has borrowed $122.89M in stablecoins.… pic.twitter.com/ZxFsQaexqo
These movements resonate with BitMine's ongoing strategy to increase its Ethereum holdings. Over the past week, the company has added 110,288 ETH, bringing its total holdings to 3.5 million ETH (valued at approximately $12.5 billion), further solidifying its position as the largest corporate holder of ETH.
This series of actions reinforces the market view: whales and institutional investors generally see the recent price pullback of ETH as an excellent entry opportunity.
From a technical analysis perspective, ETH's price movement is forming a potential V-shaped recovery pattern on the daily chart, as shown in the image below.
ETH is retesting the 100-day simple moving average (SMA) at $3,450. Analysts point out that bulls need to push the price above this level to increase the likelihood of a price rise to the $4,172 neckline and complete the V-shaped pattern.
Such a movement would represent a 21% increase from the current price.
Several market experts indicate that ETH has the potential to rise to $4,000 before December, citing reasons such as a descending wedge breakout, reduced exchange supply, and Ethereum's $200 billion tokenized economy.
Related: Ethereum Price Analysis: ETH "On the Verge," Targeting $4,400
This article does not constitute any investment advice or recommendation. All investment and trading activities carry risks, and readers should conduct their own research before making decisions.
Original article: “Ethereum Whale Accumulates $1.3B in ETH, Fueling $4K Recovery Hopes”
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