- Whale scoops up $20.5M in ETH after $11M loss, signaling deep conviction.
- BlackRock buys $18.9M in ETH, positioning ahead of potential resistance breakout.
- ETH holds $2K macro support with upside targets near $5.6K on quarterly charts.
An Ethereum whale has resumed large-scale ETH purchases despite recent losses, triggering renewed investor speculation. Data shows growing inflows and strategic positioning near key resistance zones as Ethereum approaches major price levels.
Whale Adds $20.5M ETH Despite $11M Prior Loss.
Recent activity from a prominent wallet shows 9,023 ETH acquired for $20.55 million in a fresh buy. Three transfers totaling 11.736K ETH occurred this month from Bybit Hot Wallet (0xf89) to wallet 0xbA7E3E. In a post by CryptoGoos, it was revealed that the latest move added $10.83 million just hours ago.
Previous movements from the same wallet included $9.72 million one day earlier and $4.08 million one month prior. Prior transactions reveal a pattern of ETH flowing out of Bybit and into this intermediary address. According to the post, the buyer previously lost $11 million but continues accumulating, calling the move “legendary.”
This address had previously funneled 6.726K ETH and 7.5K ETH, worth over $38 million, to Bybit Deposit addresses. The pattern extends over five months, revealing a consistent structure of accumulation followed by strategic offloading. Smaller inflows and outflows also point to algorithmic-style management.
BlackRock Discloses $18.9M ETH Buy Near All-Time High
Institutional attention intensified as BlackRock acquired 7,976 ETH for $18.9 million during Ethereum’s recent rally. According to the official announcement by the Ethereum Network, this move was highlighted in the “ETH DAILY” market bulletin. The report noted that this purchase was executed during a momentum surge and priced near $2,368 per token.
The announcement did not include technical data but emphasized the volume and timing of the transaction. The purchase supports Ethereum’s positive price structure heading into the weekend. Current shifts in investor sentiment highlight a new narrative around Ethereum’s institutional demand cycle.
This new alignment alters the competitive landscape as large funds scale exposure to Ethereum’s Layer 1 ecosystem. While the announcement did not confirm custody specifics, market participants expect secure third-party arrangements. Ethereum’s proximity to previous highs suggests institutional players are positioning ahead of a potential breakout.
ETH Quarterly Chart Reveals Breakout Structure
A quarterly Ethereum chart shows a long-term ascending triangle stretching from 2020 to 2025. Crypto Seth, a prominent technical analyst, highlighted the structure, identifying resistance at $3,748 and projecting upside toward $5,600. ETH price remains above key EMAs and the long-standing uptrend line, supporting structural momentum.
The $2,000 trendline remains intact after multiple tests, showing strong macro support. This trend, paired with renewed whale and institutional buying, continues to drive Ethereum’s bullish narrative into Q3 2025.
