- Whale pulled 3.8K ETH from Bitget, signaling steady, high-value accumulation.
- Coinphoton notes ETH breakout to $1.64K follows $3M whale withdrawal.
- CoinMarketCap chart confirms price rally aligned with whale movement.
A whale has withdrawn 3,844 ETH, worth over $6.5 million, from Bitget over three weeks. The most recent transaction, recorded 10 hours ago, moved 1,897 ETH valued at $3 million. All transfers were directed to the same address: 0x2C3a1986f93b8Fe78e478888854D2.
These transactions originated from Bitget’s hot wallet labeled 0x1AB. Earlier movements included 1.12K ETH ($2.02M) two weeks ago and 772 ETH ($1.4M) plus 54.9 ETH ($100K) three weeks back. No inflows or redistribution have been observed from the recipient address.
This behavior reflects structured accumulation rather than reactive trading. Each transfer occurred with spacing that suggests coordinated activity. All assets remained in ETH, with no conversions or swaps reported across the tracked transactions.
Coinphoton Reports Strategic Whale Positioning
Ethereum’s price movement correlates closely with the whale withdrawal activity on Bitget. Shortly after the 1,897 ETH transaction, the asset broke above $1,640 with a 4% daily gain. This occurred after bouncing sharply from below $1,580 earlier in the day.
The breakout pattern and upward momentum support a longer-term technical objective. According to a report by Coinphoton, ETH is now targeting resistance zones between $2,200 and $2,300. The whale activity, paired with increased on-chain interaction, forms a strong bullish narrative.
Coinphoton emphasized that no return flows to exchanges were recorded following the withdrawals. This reinforces the notion of long-term holding or off-exchange custody. These transactions reflect potential repositioning by institutional participants or crypto-native funds.
CoinMarketCap Chart Aligns With Transaction Timing
Ethereum’s 24-hour chart captured by CoinMarketCap shows a clear breakout around 4:00 AM UTC. The price surged sharply after dipping near $1,578, aligning precisely with the latest Bitget transaction timestamp. Volume increased alongside the move, confirming market reaction.
Higher highs and higher lows followed through the morning of April 21, solidifying the bullish structure. The chart shows ETH peaking above $1,640, with price action holding above previous resistance. This movement sustained well into the day without major retracement.
The correlation between price movement and whale outflows adds weight to the strategic nature of the transfers. As of the latest reading, ETH traded near $1,620, remaining well above the daily average. The asset shows strength as it approaches key technical resistance levels.
