Ethereum (ETH) Prepares For ‘Last Euphoric Run’ As Whales Go On $135M Buying Spree

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As the world eagerly holds its breath for the Federal Open Market Committee (FOMC) meeting (because who doesn’t love a good dose of market uncertainty, right?), Ethereum (ETH) is desperately clinging to that $4,000 support level like a drowning man to a lifeboat. Even with the market bouncing like a trampoline on a sugar high, some brave souls – aka analysts – are whispering that the mighty King of Altcoins may soon rise from the ashes and embark on its long-awaited price discovery rally. Meanwhile, whales, those mysterious creatures of the deep, are diving into the waters with millions in tow. 🐋💸

Ethereum Price Set For $8,000 (Or Not?)

On Wednesday, Ethereum decided to take another stroll below the $4,000 level, dipping to a two-day low of $3,926. After a magnificent Q3 rally – which, let’s face it, felt like the best thing since sliced bread – the King of Altcoins has been struggling to hold onto that psychological support barrier, like a toddler clutching a security blanket. Despite trying to break through the $4,200 resistance, Ethereum has been stumbling, falling down, and getting up again (like Rocky, but less dramatic). 🥊

Earlier this week, Ethereum gave it another shot, retesting the $4,200 level after a heroic 7% weekend surge, only to crash back down on Tuesday like a failed parachute jump. In this circus of volatility, some analysts (probably with a bit too much coffee in their system) are suggesting that ETH may experience more wild swings, all thanks to the Federal Reserve’s interest rate cut announcement – because, apparently, a bit of Fed drama never hurt anyone. 📉

Daan Crypto Trades, the ever-optimistic sage, pointed out that Ethereum’s big test lies just above, around its previous cycle highs of $4,100. He claims, “If the bulls want to reach the highs, this is the level they must break and hold.” But if Ethereum gets a cold shoulder from this level? Prepare for a dramatic plunge to $3,800. Oh, the drama. 🎭

But wait, there’s hope. Crypto Yhodda, in all their wisdom, declared that Ethereum is “getting ready for the last euphoric run,” with a rally that mirrors the glory days of 2021 – remember when it broke free from its four-year consolidation like a bird from its cage? Okay, maybe it’s more like a caged bird that’s suddenly discovered the window is open. 🕊️

On the other hand, Crypto Jelle, with their trusty crystal ball, is predicting shakeouts at key support levels – because who doesn’t love a good shakeout? Jelle also pointed out Ethereum’s 18-month bullish megaphone formation (yes, that’s an actual thing in crypto), which broke out during the Q3 rally. And let’s not forget, Ethereum is holding its previous highs and breakout levels as support. The long-awaited “hated rally” to the $8,000 target? Well, it’s still on the cards. ✨

Whales Bet Big On ETH (They’re Really Going For It)

Meanwhile, the big fish in the sea are buying ETH like it’s going out of style. According to online reports, large-scale investors are going on a shopping spree, snapping up ETH like it’s a Black Friday deal. Santiment data revealed that whales added 218,470 ETH in the past week, signaling that these heavyweights are slowly but surely making their grand return to the market. 🛒

And then, in a shocking turn of events, on-chain analytics platform Lookonchain revealed that whales couldn’t resist the urge to buy more ETH in the past 24 hours. Two newly created addresses received a staggering 33,948 ETH, worth $135 million, from digital asset prime brokerage FalconX. Sounds like a cozy little shopping trip, doesn’t it? 💳

Lookonchain further revealed that these addresses likely belong to BitMine, the Ethereum-based treasury company that’s always up to something. BitMine recently splurged on another 27,316 ETH worth $113 million. Not bad for a Monday morning! On October 27, the company proudly announced that its holdings now exceed $14.2 billion, including 3,313,069 ETH and 192 BTC. Talk about a flex. 💪

Oh, and did you hear? BitMine is also gunning for 5% of Ethereum’s total supply. With their recent purchases, they’ve now reached 55% of their goal. Just imagine how much ETH they could own by the time they hit that magic 5% milestone. 🚀

So, as of this writing, ETH is trading at $3,990, a modest 3.5% drop in the daily timeframe. But don’t worry, this rollercoaster ride isn’t over yet. Buckle up. 🎢

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2025-10-30 07:32