Binance Whales Sustain Ethereum Buyups as ETH Price Battles Bear Trap

Key Insights:

• Binance whales have continued to add Ethereum despite recent selling pressure.
• Ethereum futures on CME showed stronger institutional inflows.
• Ethereum is outperforming Bitcoin and holding momentum above $4,600 price level.

Ethereum saw heavy buying from large Binance traders as the coin continued to show more attractive signs than Bitcoin.

Data released by CryptoQuant showed that Ethereum futures on CME attracted new capital while Bitcoin struggled to regain the same level of interest.

Binance Whales Drive Ethereum Demand

It is worth mentioning that large Ethereum holders on Binance kept adding to their positions even as the market faced selling pressure.

This consistent accumulation suggested that larger traders, often called whales, still see value in the top altcoin.

The activity came as Ethereum futures contracts on the Chicago Mercantile Exchange (CME) showed rising Open Interest.

According to CryptoQuant analyst Tugce Ozsoy, this increase in Open Interest meant that new money was entering the Ethereum market.

Charts released by the analytics firm showed that while Bitcoin’s price made new highs earlier in the year, its futures activity did not keep pace.

In contrast, Ethereum’s recent move above $4,600 came with stronger participation from institutions.

The difference pointed to a clear shift in sentiment. Ozsoy explained that retail traders had not yet joined the rally.

It is worth noting that in past cycles, retail involvement tended to appear near price tops, providing exit liquidity for larger investors.

It is important to mention that for now, Ethereum’s rise appears to be supported mainly by institutions and large Binance whales.

Ethereum Price Pulls Ahead of Bitcoin

In a separate development, market data showed that Ethereum has outperformed Bitcoin over the last three months.

While Bitcoin touched an all-time high of $124,000 contracts in Open Interest earlier in the year, it later fell and failed to recover.

The largest altcoin’s futures, however, showed a stronger trend as more positions opened on CME.

It is important to add that the contrast was clear in the charts. Bitcoin’s recent gains lacked the same depth of institutional support.

Ethereum, on the other hand, appeared to be gaining momentum with the backing of large investors. This gives Ethereum an edge, with a corresponding price shift at least in the short to medium term.

CryptoQuant noted that this development could mark a change in how investors view the two leading digital assets.

Ethereum’s ability to attract steady demand, even during price pullbacks, suggested that it might continue to separate from Bitcoin if the trend is sustained.

Outlook for Ethereum Price

It is worth mentioning that Ethereum price was trading at $4,576.28 as of writing this publication, after dropping from $4,720 earlier in the day.

The digital asset rose 22.07% in the past month, 84% over six months, and more than 1,000% in five years.

Per the past market sentiment, recent losses were mostly tied to profit-taking after earlier rallies.

Even with the pullback, Ethereum has kept its longer-term strength. Some experts such as former Bitmex CEO Arthur Hayes still believe it could climb to $10,000.

As shown earlier, the presence of whales on Binance and rising CME futures support indicated that demand had not faded.

Analysts pointed out that holding above the $4,560 level would be important for Ethereum’s short-term outlook.

Bitcoin, by comparison, was trading at $112,374.69, down 2.03% in the past 24 hours as seen at the time of writing. The gap in activity between the two assets showed that Ethereum has continued to lead.

Whether this advantage holds will depend on whether institutional interest in Ethereum remains strong and whether retail investors enter the market later.

For now, Ethereum’s position looked stronger than Bitcoin’s, with the Binance whales and institutional flows in CME futures showcasing stronger backing.