Ethereum is once again in the spotlight, as institutional demand and whale accumulation continue to shape the market, even in the face of recent revisions. Despite price retracements that have led to uncertainty, the broader trend reveals that large investors are steadily turning capital into ETH. Headlines about whales moving substantial amounts of funds to accumulate Ethereum dominates the news cycle and reinforces the view that ETH remains the cornerstone of the next stage of the market.
One of the most notable players driving this trend is the massive Bitcoin OG wallet that has repeatedly gained the attention of analysts. According to LookonChain, the whale sold another 2,000 BTC, worth about $215 million, and quickly bought a spot of 48,942 ETH ($225 million) over the past four hours. This aggressive move will already add to the substantive position, reflecting the decisive capital turnover strategy from Bitcoin to Ethereum.
Such transactions underscore the growing confidence among whales and institutions in the long-term value of Ethereum, particularly as network activity and adoption remain strong. Short-term volatility continues, but these large-scale movements show deeper, underlying trends. Ethereum’s role as a major alternative to Bitcoin has been strengthened, and the market is preparing for the next phase.
Whale accumulation causes speculation for Ethereum
According to LookonChain, Bitcoin OG investors currently accumulate an astounding 886,371 ETH, about $4.07 billion. This massive accumulation has become one of the most discussed developments in the crypto market, sparking intense speculation about Ethereum’s trajectory in the coming months. Many analysts see this as a clear case of “smart money positioning.”
The scale of these purchases suggests more than simple speculation. In particular, given its advantages in defi, stablecoins, and network activity, large players have shown confidence in Ethereum’s long-term role. By staking many of these holdings, the whales also show confidence in their ability to generate Ethereum yields while securing their networks, further highlighting the usefulness of ETH beyond price speculation.
However, the risk remains. Bitcoin has struggled to maintain the uptrend, and uncertainty about its ability to recover momentum is heavily in the wider market. At the same time, several altcoins are facing sudden corrections, highlighting the vulnerability of emotions at this stage.
Testing support during integration
Ethereum (ETH) is currently trading around $4,414 after failing attempts to surpass the $4,500 resistance zone. The chart shows that ETH is stuck in the integration phase, with price action forming a lateral range since mid-August. Despite recent volatility, ETH remains above the 200-day SMA of nearly $4,220.
The 50- and 100-day SMA is currently clustered at around $4,460, serving as a dynamic resistance and maintaining upward momentum. Each denial from this zone highlights the market’s hesitation as traders wait for direction confirmation. If your ETH is above $4,400, you will still be able to push back to $4,600-$4,800. However, a breakdown below $4,300 could pose even more downsides towards a $4,200 support area.
Momentum indicators suggest a cooling phase after the strong Ethereum gathering in July and early August. Price compression here shows that the market is ready for the next important movement. Essentially, on-chain data showing whale accumulation and reduced exchange reserves continues to support a bullish long-term outlook.
Dall-E special images, TradingView chart
