Ethereum whale linked to Longling Capital acquired 6,000 ETH, continuing a pattern of buying low and selling high.
Following the broader crypto market crash amid hawkish Fed commentary for 2025, Ethereum price ETH $3 699 24h volatility: 4.7% Market cap: $445.39 B Vol. 24h: $54.95 B dropped by more than 5% today. However, large ETH holders aka Ethereum whales see a major opportunity here thereby buying the dips.
Amid the recent ETH price drop, a prominent Ethereum whale, reportedly linked to Longling Capital, has strategically acquired 6,000 ETH. Known for its precise market timing, the whale has consistently capitalized on Ethereum price swings, amassing a total profit of $83 million to date reported LookonChain.
Furthermore, data from Arkham Intelligence shows that since May 8, 2023, the whale has purchased 75,400 ETH valued at $180.4 million, at an average price of $2,392. During the same period, the whale sold 50,800 ETH for $172.8 million, averaging $3,401 per ETH. This pattern underscores the whale’s expertise in buying low and selling high.
Source: LookonChain
Amid the strong Ethereum whale activity, investors are curious whether ETH price will bounce back once again. Despite today’s fall, market analysts continue to stay bullish on ETH.
The ETH/BTC trading pair has remained in a downtrend for over two years, with the ratio stuck within a parallel channel since September 2022. Despite this extended bearish phase, technical indicators suggest a potential reversal may be on the horizon, reported prominent analyst Venturefounder.
For the trend to shift, chart patterns like a double bottom or an inverse head-and-shoulders formation could serve as catalysts, noted the analyst. Historically, ETH/BTC experienced its longest bear market between February 2018 and December 2019 — lasting nearly two years. During that time, a double-bottom pattern was necessary for Ethereum to regain upward momentum against Bitcoin.
Source: Venturefounder
Other on-chain indicators also point to an Ethereum price recovery moving ahead. Popular crypto analyst Ali Martinez noted that Ethereum’s social sentiment has dropped to the most negative levels since December 18, 2023. He added that such negative sentiment has preceded significant price rallies, historically.
Source: Ali charts
Martinez highlighted that during the last comparable sentiment trough in December 2023, Ethereum experienced a sharp 30% surge. If the ETH price bounces back 30% from the support of $3,500, we could see a quick rally to $4,500, and further to a new all-time high.
Source: IncomeSharks
Market analyst IncomeSharks has noted that Ethereum ($ETH) remains in a bullish position, with the Supertrend indicator unbroken despite recent market fluctuations. “Ethereum is still holding support,” the analyst stated, emphasizing that current levels suggest caution for bearish traders.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
