🐳 ETH WHALES ARE QUIETLY POSITIONING — AND THE REAL TREND IS HIDDEN FROM THE PRICE

📉 Price is falling… but on-chain data tells a completely different story.

Two independent charts (“Balance by Holder Value”) show the TRUE behavior of Ethereum whales over the last year and the last month.

And the signal is extremely bullish.

Let’s break it down. 👇

📊 1️⃣ Long-Term Whale Structure (Nov 2024 → Nov 2025)

🔵 10k–100k ETH wallets (Institutional Class)

These wallets show the most powerful trend:

📈 Massive accumulation:

≈ 15M ETH → 22.3M ETH

(+7.3M ETH) added over the year.

This is deep-pocket capital — funds, custodians, structured investors.

➡️ This is the strongest accumulation wave of the entire cycle.

🟢 1k–10k ETH wallets (Smart mid-tier holders)

Stable around 11.5M–12M ETH

Small decline only near local price tops.

➡️ Neutral, not selling, waiting for the macro signal.

🔵 100k+ ETH wallets (Mega Whales, protocols, pools)

Balance: ≈ 4.25M → 4.05M ETH

Small decline: ~200k ETH

But…

The decline is tiny compared to the buying pressure from 10k–100k wallets.

➡️ 100k+ reduction = 200k ETH

➡️ Institutions added = 7.3M ETH

Institutions absorbed the entire reduction 36 times over.

This is the single most important conclusion from the long-term chart.

📊 2️⃣ Short-Term Balance (Oct 2025 → Nov 2025)

🔵 10k–100k ETH wallets

Still rising even during the current drawdown.

➡️ Whales are buying the dip, not selling it.

🟢 1k–10k wallets

Very slight decline.

No mass exit.

➡️ Mid-tier holders are not panicking.

🔵 100k+ ETH wallets

Completely stable.

No liquidation events.

➡️ These wallets would cause a crash to $2K if they were selling.

➡️ They are not selling.

⚫ Price (black line)

Dropped from ~$3,600 → ~$2,800.

But this drop is NOT caused by whale outflows.

It is driven by:

•liquidations

•market maker manipulation

•retail panic

•short-term sentiment

On-chain behavior contradicts the price move

completely.