TLDR:
- One Ethereum whale offloaded $62M in ETH, earning $156M from earlier buys at $1,882 per token.
- BlackRock’s ETHA fund has acquired $1.4B worth of ETH since October, signaling sustained institutional demand.
- Analysts expect Ethereum’s support near $4,240 and possible rally above $5,000 if resistance breaks.
- Market watchers view current ETH moves as a pre-parabolic retest before another major upward cycle.
A major Ethereum whale has sold $62.48 million worth of ETH, locking in large profits while institutions continue to buy.
The transaction drew attention across the crypto market as Ethereum’s price hovered near $4,340. Market participants are now weighing whether this sale signals short-term caution or part of a wider accumulation pattern.
While some traders took profits, others viewed the dip as a setup for the next upward phase.
According to data shared by trader Ted (@TedPillows), the whale originally bought $121 million worth of ETH at an average price of $1,882. That position now represents $156 million in realized gains.
The move came as Ethereum slipped by 1.47% in 24 hours and 3.12% over the week, based on CoinGecko data.
Whales and Funds Keep Accumulating Ethereum
Despite the large sale, Ethereum continues to attract deep-pocketed investors.
Ash Crypto (@Ashcryptoreal) reported that BlackRock’s Ethereum Trust (ETHA) has purchased $1.4 billion in ETH since early October. This steady buying comes even as ETH retraced to its early-month price range.
Ash said the broader trend remains bullish, calling current price movement a “usual correction” in a strong uptrend. He identified $4,240 as support and $5,000 as the key resistance level.
A clear break above that resistance could trigger a sharp rally toward $6,000.
Other market watchers agree that whales appear to be using volatility to increase holdings. The presence of institutional funds in accumulation phases has reinforced confidence that Ethereum remains central to the crypto investment cycle.
Traders say order book movements show coordinated accumulation during dips, suggesting that selling pressure might already be easing.
Analysts See Pre-Parabolic Phase for ETH Price
Chart analyst EᴛʜᴇʀNᴀꜱʏᴏɴᴀL (@EtherNasyonaL) pointed out that Ethereum is mirroring patterns seen before its past two major bull cycles. He said the current market setup resembles previous pre-parabolic phases that preceded sharp price expansions in 2017 and 2020.
The analyst described the recent correction as a “retest of demand” before another potential breakout. If the pattern repeats, ETH could be approaching a turning point in its third long-term cycle.
Traders watching on-chain flows note that whale activity and institutional inflows continue to align with that view.
Ethereum’s price at publication sits around $4,340, with trading volume above $35 billion in the past 24 hours, per CoinGecko. While short-term swings remain, the market’s focus has shifted toward whether this phase leads into a sustained rally.
