Ethereum whales pour $80 mln into accumulation – Start of a bullish turn?

Key Takeaways

Why are whales accumulating over $80 million worth of ETH?

Institutional buyers like Bitmine and whales are signaling renewed long-term confidence in Ethereum.

How are exchange outflows and rising Open Interest shaping Ethereum’s price direction?

Decreasing supply and increasing trader activity suggest growing bullish pressure for a possible breakout.

Institutional activity is picking up again as large Ethereum [ETH] purchases point to renewed conviction in the asset’s long-term potential. 

Bitmine’s $69.89 million purchase from Coinbase and FalconX, combined with the additional 4,009 ETH acquisition by a whale, has pushed total inflows beyond $80 million. 

This resurgence comes after weeks of price pressure and uncertainty across the broader market. However, such strong accumulation often marks a transitional phase where capital shifts from weaker to stronger hands. 

As liquidity tightens and confidence rebuilds, Ethereum’s market structure appears to be stabilizing, paving the way for a more sustained upward movement if accumulation continues at this pace.

Ethereum eyes rebound

Ethereum’s price action shows encouraging signs of recovery after defending the $3,292 support zone, a level that has historically triggered buying momentum. 

The daily chart indicates a rebound from a falling wedge pattern, often considered a bullish reversal signal. Moreover, the RSI’s bounce from oversold territory supports a gradual shift in momentum favoring buyers. 

If sustained, Ethereum could challenge resistance around $4,248, while a successful breakout could open the path toward $4,949. 

However, the recovery remains fragile, and failure to maintain the current trajectory might invite short-term retracement. 

Still, the ongoing accumulation suggests investors expect a potential resurgence once price stability is confirmed above key technical thresholds.

Source: TradingView

Growing confidence among investors

Recent on-chain data from CoinGlass revealed a $74.03 million net outflow of ETH from exchanges, highlighting a strong accumulation phase. 

Negative netflows often suggest investors are moving their holdings into self-custody, reducing the available supply for selling.

This shift supports a bullish narrative, as consistent exchange outflows typically precede upward price movements during supply contractions. 

Additionally, the continuation of these outflows since mid-October coincided with whale buying activity, underscoring a shared sentiment of confidence among long-term holders. 

As liquidity on centralized exchanges tightens, short-term volatility may increase, but the broader structure points toward a healthier market foundation fueled by demand outweighing supply.

Source: CoinGlass

Traders gear up as Open Interest surges

Ethereum’s derivatives market is showing renewed excitement, with Open Interest climbing 2.81% to $18.92 billion. 

The rise suggests traders are positioning for potential volatility and directional momentum. This growing interest reflects expectations of a major move, amplified by spot accumulation and exchange outflows. 

The synergy between rising Open Interest and strengthening spot demand indicates that both retail and institutional traders are preparing for a decisive shift in market sentiment. 

However, it also raises the probability of sharper swings if leveraged positions unwind suddenly. 

Still, if momentum continues aligning with on-chain accumulation trends, Ethereum could soon experience a volatility-driven breakout that redefines its short-term trajectory.

Source: CryptoQuant

Conclusively, Ethereum’s outlook is turning decisively bullish as whales inject over $80 million, exchange reserves continue to decline, and Open Interest climbs steadily. 

These converging signals point toward strengthening investor conviction and a tightening supply environment that could favor upward momentum. 

If buyers successfully maintain support above $3,300 and reclaim the $4,200 barrier, Ethereum could re-enter a mid-term bullish phase, potentially targeting the $4,900 zone. 

The alignment of whale confidence, technical resilience, and rising speculative demand suggests that Ethereum’s next major breakout may already be in motion.