Recent on-chain data reveals a striking divergence between Ethereum's price action and whale accumulation patterns. Despite ETH's drop below $2,500, large holders are buying at rates unseen since 2017, signaling potential market bottom formation.
Unprecedented Whale Activity During Price Dip
Glassnode reports daily net whale accumulation exceeding 800,000 ETH for seven consecutive days, with notable highlights:
- 871,000 ETH purchased in a single day on June 12 (largest daily inflow of 2025)
- 1.49 million ETH added by whales (1,000-100,000 ETH wallets) over 30 days
- Whale control now at 26.98% of total ETH supply (3.72% monthly increase)
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Key Support Zones and Resistance Levels
Technical Landscape for ETH/USDT:
| Price Level | Significance |
|---|---|
| $2,374.58 | 24-hour low (next bear target) |
| $2,500 | Critical psychological support |
| $2,550-$2,565 | Immediate resistance |
| $2,650-$2,670 | Major sell-off trigger zone |
While retail investors show profit-taking behavior, whale accumulation suggests institutional confidence in Ethereum's long-term value proposition at current prices.
Cross-Asset Performance Analysis
Relative Strength Indicators:
- ETH/BTC: -0.83% (0.02276 ratio) shows Bitcoin outperformance
- SOL/ETH: +2.60% (0.06800 ratio) signals capital rotation to Solana
This divergence creates potential opportunities for:
- Contrarian ETH accumulation at support levels
- Relative value trades between major cryptocurrencies
- Monitoring institutional vs. retail sentiment shifts
Frequently Asked Questions
Q: Why are whales accumulating ETH during a price drop?
A: Large investors often view corrections as buying opportunities, especially when fundamentals remain strong. The scale suggests anticipation of future catalysts.
Q: Does whale accumulation guarantee a price bottom?
A: While not foolproof, sustained whale buying typically establishes strong support zones. Combined with oversold conditions, it increases reversal probability.
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Q: How does ETF flow data impact ETH price?
A: Spot ETF outflows ($2.2M) contrast with direct on-chain buying, showing different investor time horizons. Institutional vehicles may lag behind whale activity.
Strategic Implications for Traders
The current environment presents:
- A potential value accumulation zone between $2,374-$2,500
- Short-term trading opportunities around key technical levels
- Long-term positioning for ETH's evolving ecosystem fundamentals
The divergence between weakening retail sentiment and strengthening whale positions creates a complex but opportunity-rich landscape for informed market participants.