Ethereum faces increased volatility as the entire crypto market moves to a new stage, increasingly defined by capital turnover. For months, Bitcoin dominated the spotlight, with institutional flows and retail enthusiasm centering almost exclusively on the world’s biggest cryptocurrency. The tide is turning now. Ethereum has emerged as the next major focus, moving large amounts of capital from BTC to ETH.
This rotation indicates an important evolution of the cycle. Institutions and major players who previously prioritized Bitcoin as their sole entry point are beginning to diversify into Ethereum. Analysts note that this shift is not just a speculation, but also a recognition of the growing role of Ethereum as the backbone of distributed finance, NFTS, and enterprise-grade blockchain solutions.
Arkham’s important data make this trend significantly clearer. The whale, which owns more than $5 billion in Bitcoin, recently began accumulating Ethereum, marking one of the most notable cross-asset moves in recent months. The same entity, already a key BTC holder, is now actively building a large ETH position, reflecting growing confidence in Ethereum’s long-term trajectory.
Whale accumulation strengthens Ethereum’s bullish outlook
According to Arkham data, one of the largest Bitcoin holders in the market has strengthened confidence in ETH’s long-term trajectory and launched a major rotation into Ethereum. The whales, which manage more than $5 billion in BTC, have moved $1.1 billion worth of Bitcoin into their new wallets before they begin to accumulate ETH via Hyperunit/HL. The move follows last week’s activity, when the same whale purchased an astounding $2.5 billion worth of Ethereum.
This aggressive accumulation highlights the growth trend of capital turnover from Bitcoin to Ethereum. For months, institutions and whales have been focused primarily on BTC exposure, but recent activities suggest that Ethereum is becoming an equally compelling asset in its portfolio. The pure scale of this whale movement underlines the strong confidence that ETH is underestimated compared to its potential.
This accumulation also strengthens the broader bullish outlook that many analysts already have for Ethereum. From transactional activity to institutional adoption, ETH is considered the cornerstone of the next stage of crypto growth, as the highest network foundations exist in history.
The next few weeks will be extremely important. If Ethereum can maintain momentum and push it to new highs, the continuous whale accumulation could serve as a catalyst for further price discovery, potentially placing ETH above $5,000.
ETH/BTC indicates strength
Ethereum shows great strength against Bitcoin, with ETH/BTC pair trading trading at 0.0402 after a sharp gathering through the summer. The daily chart highlights a strong upward trend that emerges from a year-long decline that has put ETH under pressure compared to BTC. Since May, ETH has steadily climbed, moving from a low of nearly 0.021 to its current level, effectively doubling its relative value against Bitcoin.
The breakouts above the 50, 100 and 200-day moving averages further confirmed bullish momentum. These moving averages, currently far below current prices, serve as layers of support, suggesting that ETH is on a solid upward trend. The sharp rise also indicates a structural shift in market sentiment, with capital turnover from BTC to ETH becoming increasingly evident.
Currently, ETH/BTC is facing resistance below 0.042, with sellers testing the strength of the rally. A successful breakout above this level could open the door towards the 0.045–0.046 zone, which was last tested in mid-2023. On the downside, holding 0.038 as support is important to maintain bullish structures.
Dall-E special images, TradingView chart
