Key Takeaways:
- Ethereum whales accumulated $263 million in ETH during the latest price dip.
- Technical patterns suggest a potential 25% price rebound toward $2,735.
- Despite bearish sentiment, whales view the current sell-off as a buy-the-dip opportunity.
Ethereum’s price may be facing downward pressure from escalating geopolitical tensions, but large investors—or whales—are undeterred. Recent blockchain data reveals that Ethereum whales are betting hundreds of millions of dollars on an ETH price recovery, as technical patterns suggest a potential 25% rebound in the near term.
This whale activity comes amid a backdrop of rising Middle East conflict, risk-off sentiment across markets, and heightened short positions from top crypto traders. Yet, despite this bearish tone, large ETH holders appear to be taking advantage of the dip.
Whales Defy the Market with Massive ETH Accumulation
Over the past few days, multiple Ethereum whales have added significant positions. One investor opened a $101 million long ETH position with 25x leverage at $2,247 per ETH, racking up $900,000 in unrealized gains—though paying $2.5 million in funding fees—with a liquidation level at $2,196.
Meanwhile, another high-net-worth wallet (address 0x7355…213) accumulated 9,400 ETH (~$39 million) on June 22 alone, lifting total holdings to $330 million. On the same day, Ethereum wallets holding 10,000 ETH or more collectively increased their positions by over 116,893 ETH worth $265.3 million, according to Glassnode.
This buying spree occurred as ETH’s price plunged 12.8% in 24 hours, hitting a one-month low of $2,113 following U.S. airstrikes on Iran. Despite these risks, whales appear to be treating this as a long-term opportunity.
Technical Patterns Signal a 25% ETH Bounce
Market analysts also point to bullish technical signals that support the whales’ optimism. ETH remains above a key ascending trendline that previously triggered a 55% rally in April-May 2025. If history repeats, Ethereum could climb 25% to $2,735 in the short term, according to analyst Sensei.
Supporting this thesis is the record-high supply of staked ETH, now over 35 million coins. This suggests reduced sell pressure as more investors choose to lock up their ETH to earn passive yield rather than exit the market.
Short-Term Bearish Sentiment vs. Long-Term Bullish Bets
Despite whale accumulation, broader market sentiment remains cautious. Around 64% of top crypto traders are currently shorting BTC and ETH, according to HyperDash data. Analysts from Nansen and Binance Research also note that uncertainty remains high amid geopolitical tensions and macro concerns.
“The market is still in a wait-and-see stage,” said Nicolai Sondergaard, a research analyst at Nansen, while Binance Research added that “panic-then-recover” patterns depend on how quickly the geopolitical narrative cools.
Conclusion: Will Whales Drive an ETH Rebound?
While geopolitical tensions and market volatility have sidelined many traders, Ethereum whales are making bold bets on a price recovery. Whether these long positions pay off may depend on broader market sentiment, risk appetite, and how the Middle East conflict evolves.
For now, with $263 million in new whale accumulation and bullish technical patterns, Ethereum’s outlook may not be as bleak as recent price action suggests.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
