Ethereum bulls have seized the opportunity presented by the recent crypto market downturn, aggressively accumulating ETH at lower prices. Data from leading crypto analyst Ali Martinez revealed that whales have purchased a staggering 600,000 ETH over the past seven days, reinforcing bullish sentiment and hinting at a potential price surge.
Whales have bought over 600,000 #Ethereum $ETH in the past week! pic.twitter.com/y736DxlGSP
— Ali (@ali_charts) February 12, 2025
Ethereum Whales Buy the Dip
On February 12, Ali Martinez shared insights via X (formerly Twitter), highlighting the large-scale Ethereum accumulation amid its price decline from $2,800 to $2,600. This strategic move suggests a strong ‘buy-the-dip’ mentality among major investors, often a precursor to upward momentum.
In crypto markets, significant whale activity is a crucial indicator of future price movements. Historically, when institutional and large-scale investors accumulate during downturns, it signals confidence in an impending rally. This latest accumulation spree adds weight to the argument that ETH could be gearing up for a strong rebound.
Market Volatility: A Temporary Hurdle?
Despite Ethereum’s strong whale backing, broader market volatility remains a concern. The U.S. Federal Reserve’s hawkish stance, articulated by Jerome Powell, has heightened selling pressure on risk assets, including cryptocurrencies. Additionally, upcoming U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) data have made investors cautious, further fueling short-term instability.
However, Ethereum’s resilience amid macroeconomic uncertainty suggests that its long-term fundamentals remain intact. The aggressive buying by whales underscores the belief that this market turbulence is temporary, setting the stage for a potential breakout.
Analysts Predict an ETH Breakout
Despite an intraday dip of over 4% to $2,601, market analysts remain highly optimistic. Prominent trader ‘Merlijn The Trader’ pointed to the formation of a ‘Golden Cross’ on Ethereum’s weekly chart, a historically bullish signal that has preceded massive price surges.
Meanwhile, crypto expert ‘Ash Crypto’ drew parallels between Ethereum’s current cycle and Bitcoin’s past bull run. According to the analyst, ETH is mimicking Bitcoin’s trajectory, and with the completion of key accumulation phases, a rally to $10,000 is “programmed this cycle.”
Also Read: Ethereum Faces Growing Bearish Pressure as Hedge Funds Ramp Up Short Positions
With strong whale accumulation and bullish technical indicators, Ethereum appears poised for a potential surge. Investors are now eyeing key resistance levels, awaiting confirmation of the next major move in ETH’s price trajectory.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
