Ethereum whales return to the market: Is ETH ready for $10K? – Crypto News – Crypto News
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Ethereum whales return to the market: Is ETH ready for $10K? Ethereum whales return to the market: Is ETH ready for $10K?

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Ethereum whales return to the market: Is ETH ready for $10K? – Crypto News

Published

10 months ago

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Key Takeaways

Are Ethereum whales buying more ETH right now?

Major Ethereum whales like Bitmine have bought over 252,000 ETH in three days.

What could happen to ETH price in Q4?

If historical trends repeat, ETH could post double the gains next quarter.

Ethereum [ETH] whales are making some serious noise.

ETH treasury company Bitmine just bought over 252,000 ETH in only three days, boosting its stash to a whopping $8.84 billion. And they’re not alone; other big players are stacking ETH too.

While analysts warn a short pullback could be on the cards, there’s reason to believe that this is just a prelude to something explosive.

Whales make waves with massive ETH buys

A whale just snapped up $15 million worth of ETH, and it’s not an isolated move.

Source: X

Tom Lee’s Bitmine just went on a shopping spree, buying 252,441 ETH in only three days. That brings its total stash to over 2.2 million ETH, worth $8.84 billion.

Source: X

The other big story is that whale wallet 0xE37F (which sold 1,857 ETH at $2,251 just five months ago) has now re-entered. Earlier today, it grabbed 1,501 ETH for $6.17 million at $4,114 each.

Source: X

But while whales are loading up, Ethereum ETFs are showing the opposite trend.

Source: SoSoValue

The products bled heavily this week, with outflows totaling $795.56 million — the biggest weekly loss since their inception.

This sharp reversal wiped out much of the momentum built in August and early September, when inflows had pushed total net assets above $30 billion.

At the time of writing, assets under management had slipped back to $26 billion.

Can Q4 push ETH to the moon?

Ethereum has had quite the year with its ups and downs, but Q4 could bring us to the light.

Source: Coinglass

The last time ETH closed Q3 this strong, Q4 gains more than doubled, pushing prices to new highs.

Source: X

According to analyst TedPillows, ETH is in a healthy correction after rallying nearly 250% from its bottom, which is normal in big uptrends.

If the pattern holds, once this pullback is done, the next leg could take ETH comfortably above $10,000.

With seasonal data pointing to strong finishes and the price still inside its long-term rising channel, the next few months could be decisive.

Short-term outlook

Ethereum looks to be catching its breath after the drop last week. The price has managed to bounce back above $4,100, looking stable.

Source: TradingView

The RSI was just under 45, which means ETH isn’t oversold, but still has room to push higher if buying picks up. On the other hand, trading volumes remained light, so momentum isn’t strong yet.

If the bulls can defend the $4,000 level, the next move could be a steady climb. But if that floor gives way, we could see another leg down before recovery kicks in.

Next: Inside Solana’s breakout – Why THIS wedge matters more than you think

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