Ethereum whales are doing something they haven't done in a year. Since October 6, 2025, Ethereum whales holding 1,000 to 10,000 ETH have undergone a significant regime change in their market behavior. Before this shift, this cohort was in a steady accumulation regime. Their holdings grew from 12.95 million ETH in April 2025 to a peak of 15.95 million ETH by October 6, 2025. Then, the behavior flipped. Holdings for these mid-tier whales have decreased from 15.95 million to roughly 12.52 million ETH, representing a 21.5% drop in their total position. This supply overhang suggests that the road to $3,000 may require a fresh wave of institutional or retail demand to offset whale distribution.(Ali Charts)