Ethereum (ETH) price continues its downward slope despite a slight market recovery the previous week. Crypto whales look to profit from the stretched market dip ahead of an expected rebound. Ethereum holds its $1,893 position, an attractive point for whales after several retail sales. ETH Whales Accumulate Huge Assets In the last seven days, crypto whales bought over 400,000 ETH and moved about 600,000 off centralized exchanges. This comes after a week of sideways trading and low buying momentum. Movement off exchanges remains a strong bullish signal highlighting long-term hodling. These transfers are often linked to a purchase, just as inflows to exchanges point to a potential sale. Digital asset enthusiasts say reduced exchange reserves can spark a price turnaround. With the price range at the 2024 support mark, whale inflows could set the pace. In January, crypto bulls projected a $4k price for Ethereum citing the altcoin season and a surging crypto market. Recent weeks have seen the reverse marked with huge sales from several quarters. With plunging crypto prices, asset repositioning is taking shape. The altcoin season will record improved prices as BTC dominance declines, which is why investors are backing ETH. During the bull peak, these buyers look to a near $2,500 and a higher $4k price. This means an almost 100% asset price from present levels. Such a jump requires a higher institutional appetite than 2024 levels. In Q4 2024, ETH institutional volume jumped 14.5% amid low retail numbers. Digital asset investor Ted Pillows backed the asset as the best layer for banks and other commercial institutions. “ Ethereum is the best layer for institutions like commercial banks, central banks, credit unions, insurers, and government-linked entities. Global adoption is on the rise, and the USA’s pro-crypto stance is a big catalyst. With plans to bring the US Treasury on-chain, $ETH is positioned for a strong comeback and widespread use.” Crypto Whales Are Back Apart from Ethereum, digital asset whales also purchased large assets on the White House Crypto Summit wave . Last week, BTC whales added 5,000 assets to their holdings, leading to slight gains. The top crypto trades at $83k, down 27% from previous highs. However, trader sentiments are surging as bulls gauge a rebound above $95k and subsequently to an all-time high. Solana, Cardano, and XRP also recorded whale accumulations within the week. Altcoin bulls remain fixed on possible ETF approvals to fuel a price run. Meanwhile, Litecoin whales amassed 430,000 assets in 48 hours.
