Whales Sitting on Record Profits 🐋
Ethereum’s top holders, wallets holding 10k–100k ETH, now have about $45 billion in unrealized gains. This matches the peak seen in late 2021, right before the last explosive rally. Historically, such levels have preceded massive upward moves. The question: will history repeat? While the profits show strong confidence, they also create risk—whales can realize gains anytime, sparking sudden selling pressure.
Exchange Flows Show a Clear Trend 🔄
Earlier this year (Feb–March), heavy inflows to exchanges pushed prices down. Since June, however, the pattern flipped. Between 200k and 400k ETH are leaving exchanges daily, suggesting large holders prefer cold storage or staking. That move indicates long-term conviction rather than a readiness to sell, which generally leans bullish for price action.
Staking Activity Sending Mixed Messages 📉
Staking deposits exploded in mid-2025, hitting records in August as ETH surged past $4k. That signaled strong network commitment. Recently though, deposits have dropped to their lowest daily levels since late 2024. This may simply reflect a cooldown after heavy inflows, or it could hint at fading short-term enthusiasm from some investors.
The $4,600 Resistance Point 🤔
Right now ETH trades near $4,600—just below its all-time high. In the last cycle, breaking this zone led to a rally of more than 240%. The coming days are critical: a clean breakout with follow-through could trigger the next parabolic leg higher, while a rejection here could mean sideways consolidation.
Bottom Line:
With whales at record paper profits, consistent exchange outflows, and price testing a major resistance, Ethereum faces a pivotal moment. Will whales lock in profits and cool the rally, or hold strong and fuel another surge?
What do you think comes next? Drop your predictions below! 👇
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