 
 
Ethereum (ETH) whales holding larger portions of the asset appear committed to playing the long game, as indicated by recent market data. Notably, these whales, which are increasingly accumulating ETH, are engaging in bullish activities on the leading cryptocurrency exchange, Binance.
In a recent post shared by prominent pseudonymous analyst Darkfrost on Cryptoquant, Binance whales are accumulating their assets as they continue to increase their position in ETH.
According to an on-chain chart depicting market activity, which categorizes investors’ behavior by cohorts interacting with Binance, such as retail traders and large whales, a bullish trend has been in motion since July.
Notably, a significant increase in demand from Binance whales has been an ongoing pattern recorded since July, with spot and futures orders attributed to whales flowing on Binance, as the second-largest asset approaches $5,000.
Sharing an in-depth breakdown of historical whale behavioral patterns relevant to the ongoing whale movement pattern, the analyst wrote the following;
 
“Whales act differently and often prefer to enter positions after a positive trend has been well validated, which is clearly observable here as these orders only started after the trend reversal. However, this does not make them immune to panic or sometimes arriving too late.”
The current whale movement pattern indicates strong accumulation that supports the upward movement, poised to strengthen the existing momentum and push ETH towards the $5,000 price mark.
Interestingly, a different analyst is confirming the optimistic outlook. Egrag Crypto took to X to share his expectations for ETH, establishing that if the asset reaches ideal Fib levels 1.414 and 1.618, it could indicate a massive pump for Altcoins.
At report time, ETH, the second-largest crypto by market cap, is trading at $4,565 per coin. Although losses from the last 24 hours have increased by 1.17%, gains sustained over the past 7 days stand at 7.05%, suggesting that selling pressure has not yet fully taken over.
Source: https://zycrypto.com/binance-whales-are-extremely-bullish-on-ethereum-this-is-exactly-why/