Ethereum Faces Pressure as Whales Accumulate
Ethereum slipped under $4,000 and touched a low of $3,820, reflecting strong selling pressure while bulls try to establish a support zone. The drop comes after weeks of volatility, leaving traders uncertain whether this is the start of a deeper correction or the setup for a rebound.
Despite the recent weakness, some analysts suggest this level could be Ethereum’s bottom. On-chain data from Lookonchain shows that whales have been buying aggressively during the decline. These large-scale purchases often signal growing confidence, as big players tend to take advantage of market dips to expand their positions.
The disconnect between weak short-term price action and heavy whale accumulation has fueled debate about Ethereum’s resilience. One OTC whale recently bought more than 60,000 ETH—worth around $238 million—during the latest downturn. Even though the whale is currently sitting on paper losses, the move points to strong long-term conviction.
This activity highlights a broader pattern: whales and possibly institutional investors continue to view pullbacks as opportunities. Their willingness to absorb short-term losses suggests they believe in Ethereum’s long-term growth potential.
Such accumulation could prove important. When whales buy heavily during corrections, it often helps the market recover once selling pressure eases. With growing institutional interest and the expansion of ETH-based products, Ethereum’s position in the market remains significant.
The next few weeks will be key. If accumulation continues, Ethereum could find stability and rebound once broader market conditions improve.
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