Whales Are Buying ETH Again, But Is a Rally Still Possible?

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TL;DR

  • The mega whales paused after adding 2M ETH, while the large whales came back with 400K ETH.
  • ETH trades below $4,500 resistance, but momentum could need more juice.
  • BitMine and new wallets bought $349M ETH, showing interest despite slow ETF inflows.

Whale Drama: Big Fish vs. Bigger Fish 🦈

Ethereum’s price is doing the ol’ cha-cha between two groups of whales. On one side, we’ve got the mega whales (those holding over 10,000 ETH), who were the true heroes of the August rally. These guys snatched up over 2 million ETH like it was a Black Friday sale. But guess what? They’ve decided to take a nap, and their buying spree has gone quiet in the past weeks. 💤

On the other side, the large whales (the ones with 1,000-10,000 ETH) are back in action, picking up about 400,000 ETH in the last month after a bit of a vacation in July. These whales are here to remind the market that not all whales are taking it easy! 🐋💰

$ETH price is now caught between two whale groups and that balance could decide the next market move.

Mega whales (10k+ ETH) drove August’s rally with more than 2M ETH added, but their buying has stopped.

Large whales (1k-10k ETH), after weeks of selling, have turned back…

– Cas Abbé (@cas_abbe) September 4, 2025

ETH Price Stuck at $4,500-Can it Break Free? 🤔

ETH was lounging around $4,420 when we checked, but don’t get too comfortable. It’s trading under the $4,500 resistance level like a kid who’s afraid of heights. Sure, it’s up by 1% on the day, but it’s still nursing a 4% loss for the past week. So, not exactly a parade, right?

Cas Abbé had this to say about ETH’s situation:

“$ETH price is now caught between two whale groups and that balance could decide the next market move.”

So, here’s the deal: if smaller whales keep buying and the mega whales stay snoozing, ETH might just hold its ground. But if those big players come back to the party, we could see a rally that knocks our socks off. 🚀

And speaking of whales, BitMine Digital bought a massive chunk of ETH-over 14,000 ETH, worth $62.4 million. At the same time, three new wallets made a splash, picking up 65,662 ETH through FalconX, totaling $287 million. Sounds like someone’s got some deep pockets!

“ETF inflows have definitely slowed down for $ETH but whales are still buying non-stop,” he shared.

Even though institutional money is taking a breather, these whales are clearly not shy about splashing their cash around. The big question: will this be enough to break ETH above that pesky $4,500 resistance? Time will tell… 🕰️

Key Levels: Where ETH Might Head Next

According to Lennaert Snyder, ETH still hasn’t managed to break through the $4,500 resistance. This level is like the fortress guarding ETH’s future-without a clear breakthrough, we’re stuck. He also warns to wait for clear reversals from lower support before entering long positions.

$ETH rejected key $4,500 resistance as posted yesterday.

Congrats to everyone who took the short!

$4,500 remains the level to gain for bullish continuation.

Longing Ethereum at lower support after reversals only.

Remember, losing support triggers continuation shorts.

– Lennaert Snyder (@LennaertSnyder) September 4, 2025

Keep an eye on the support zones at $4,274 and $4,213. If ETH falls below these, we might be in for more downside. Additional support areas lie near $4,080 and between $3,900-$3,600. These levels are crucial, and they’ll help us figure out where ETH is heading next. 📉📈

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2025-09-04 15:20