Key takeaways:
Ethereum whales bought 260,000 ETH in the last 24 hours, signaling accumulation.
Whales, BitMine and ETFs add billions of dollars in ETH, reinforcing bullish demand.
Price technicals favor the bulls with targets between $5,000 and $6,000.
Despite the price drawdown, whales keep buying hundreds of thousands of ETH, igniting hopes of Ether’s possible return to all-time highs.
Ethereum whales buy the dip
Responding to the market correction over the last week, Ether (ETH) whales took advantage of the drop to $4,200.
Data from Santiment shows that whale addresses holding between 10,000 and 100,000 ETH rose by 4% between Aug. 24 and Tuesday. Moreover, these big investors have accumulated about 260,000 ETH worth $1.14 billion in the past 24 hours.
This underscores the confidence these large investors have in the future prospects of ETH, despite its latest price correction.
Related: Ether could see the ‘biggest bear trap’ this month: Analysts
As Cointelegraph reported, Bitcoin (BTC) whales rotating billions of dollars into Ether is a continuing trend.
On Monday, a whale holding $5 billion worth of BTC bought and staked $1.08 billion of ETH via Hyperunit, data resource Arkham Intelligence revealed in a post on X, adding:
“Including last week’s purchases, this whale has now bought and staked $3.5 billion of ETH in total.”
These moves coincide with BitMine’s continued push into Ethereum. Over the past week, the company added $354.6 million in Ether, pushing its total holdings to 1.71 million ETH (valued at about $8 billion), making it the largest corporate holder of ETH and the second-largest crypto treasury behind Strategy.
🧵
— Bitmine BMNR (@BitMNR) August 25, 2025
1/5
BitMine disclosed latest crypto holdings. As of August 24th at 5:30pm ET:
- 1,713,899 $ETH,
- 192 Bitcoin ($BTC) and
- unencumbered cash of $562 million
- fully diluted shares outstanding 221,515,180
= BMNR NAV per share $39.84
Total NAV $8.8 billion.
BitMine is #2… pic.twitter.com/PjN7nry3bf
Global Ethereum investment products attracted more than $1.4 billion in inflows last week, while spot Ethereum ETFs saw $1.4 billion in inflows between Aug. 25 and Friday.
This strengthens the narrative that Wall Street views the recent ETH price drawdown as a good entry opportunity.
Can ETH price recover to $5,000?
Data from Cointelegraph Markets Pro and TradingView shows ETH trading inside a symmetrical triangle in the four-hour time frame, as shown in the chart below.
The price must close above the triangle’s upper trendline at $4,440 to confirm a bullish breakout. Note that this is where the 50-period simple moving average (SMA) and the 100 SMA converge.
Above this level, the price faces resistance between $4,800 and a $4,950 all-time high, which, if broken, can climb quickly to the measured target of $5,249.
Such a move would bring the total gains to 20% from the current level.
Popular analyst CryptoGoos says Ether’s macro structure remains strong, with the altcoin’s breakout from a falling wedge still in play on the weekly chart.
The measured target of the falling wedge was $6,100, as shown in the chart below.
“Don’t sell your $ETH too early!” the analyst told followers in an X post on Tuesday.
Other metrics also suggest that Ethereum’s bull cycle is not over, with several technical setups projecting that ETH’s price could climb toward $10,000-$20,000 in the coming months.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
