Whale grabs $39M in Ethereum as ETH bleeds – Recovery in sight?

• Ethereum Whale has accumulated ETH worth $ 39 million after tapping a key support of $ 2,166.
• Is it a quiet phase of accumulation from the Q3 escape?

After a recent market correction, Ethereum [ETH] He saw a remarkable increase in whales. Actually one Big wallet It has accumulated 17,070 ETH, worth about $ 39 million, shortly after ETH tapped $ 2,166 support.

According to Ambrypt, the timing is called here. While retail traders are still on the edge, this whale saw “immersed” as an opportunity.

Historically, when the whales enter this way during top fear, it often refers to the local bottom or at least the phase of market stabilization.

Does this mean that Ethereum will quietly put the foundations for the Bull’s Q3?

Panic Sale meets strategic purchases

Until last week, Ethereum was on the way to closing Q2 with robust revenues that close to 40%, maintaining support over $ 2,500 and maintaining the FOMO market alive.

However, after a sharp 13% correction, these profits were almost halfway. As soon as ETH slipped below $ 2,500, both whales and ordinary traders started profits to block profits and width further losses.

Interestingly, exchanging spots They saw almost 50,000 ETH flows because investors moved funds to the chain. But now it seems that this incoming liquidity is systematically absorbed.

According to Glassnode, the number of whales, which holds more than 1,000 ETH, jumped to a 30 -day net profit of 63, which is compared to 39 before the day. This is a sharp increase in large players who quietly stack more ETH despite recent immersion.

Looking back at the Post-Duban cycle, the Ethereum price in two months gathered by more than 100%, which certainly violated a resistance of $ 2,800.

This run was supported by a large jump in the accumulation of whales. In fact, more than 100 new whales per day appeared at one point.

If history is repeated, could Ethereum be on the way to see a similar price starting up to the middle of Q3?

Ethereum’s High-Stakes Game

One increase in realized profits does not mean that we are still deep into the distribution phase. However, the Ethereum data in the chain is flashing the warning marks.

Conscious losses have climbed to a weekly high $ 311 million. Even more narrative? This is the second time in less than ten days when the Ethereum network has implemented profit/loss negatively.

This is a sign that confidence will slip. Merchants do not wait for a reflection; They are sold with a loss only for a reduction in exposure. Such behavior usually emerges during correction at a late stage or in an early surrender phase.

It’s not the first time we’ve seen it. Back before April, Ethereum Tanked to approximately $ 1,440, which coincides with a sharp increase in realized losses.

This mass departure helped reset the market before the start of actual accumulation. So of sure, the whales they buy here are a good sign, but it’s not a silver bullet.

Without shifting the momentum and wider sentiment, the Bull’s Q3 remains a potential scenario, not certainty.