Finance

Whales and BitMine Double Down: Will Ethereum’s Price Surge to $4,000?

An unknown whale accumulated $1.38B in ETH, and BitMine added to holdings, fueling hopes for a price recovery.

byAndres Castro

November 13, 2025, 10:59 AM

3D render of a minecart carrying a large Ethereum coin, surrounded by rocks and a floating pickaxe.

A playful 3D illustration showing a minecart full of Ethereum coins, symbolizing cryptocurrency mining. By MDL.

Executive Summary

An unknown Ethereum whale accumulated over 385,000 ETH, worth approximately $1.38 billion, in the past ten days, signaling strong institutional confidence despite market drawdowns.

Corporate entities like BitMine significantly increased their Ethereum holdings, with BitMine adding 110,288 ETH to become the largest corporate holder with 3.5 million ETH, valued at $12.5 billion.

Technical indicators suggest a potential V-shaped recovery for Ethereum, with a sustained push above the 100-day simple moving average at $3,450 potentially leading to ETH reclaiming the $4,000 mark.

The Story So Far

The recent accumulation of over 385,000 Ether (ETH) by unknown whales and significant purchases by corporate entities like BitMine signals strong institutional confidence, occurring after a market correction that saw Ether’s price drop to around $3,000, which large investors perceive as a strategic entry opportunity for a potential short-term recovery.

Why This Matters

The significant accumulation of over $1.38 billion in Ethereum by an unknown whale and substantial purchases by corporate entities like BitMine signal strong underlying institutional confidence in ETH, despite recent market drawdowns. This collective “buying the dip” suggests major players view current prices as a strategic entry point, potentially fueling a short-term price recovery and pushing ETH back towards the $4,000 mark, reinforcing a bullish outlook from sophisticated investors.

Who Thinks What?

Unknown Ethereum whales and other large holders are accumulating Ether during the recent price dip, viewing it as a strategic entry opportunity and signaling strong institutional confidence.

Corporate entities, such as BitMine, are significantly increasing their Ethereum holdings, further underscoring the perception that the price drawdown is a good opportunity for large investors.

Technical analysts suggest that Ether’s price action, including a potential V-shaped recovery pattern and a retest of the 100-day simple moving average, indicates a potential short-term recovery that could see ETH reclaim the $4,000 mark.

An unknown Ethereum whale has accumulated over 385,000 Ether (ETH) worth approximately $1.38 billion in the past ten days, signaling strong institutional confidence despite recent market drawdowns. This significant accumulation, alongside purchases by corporate entities like BitMine and other large investors, is fueling hopes for a short-term recovery that could see ETH reclaim the $4,000 mark.

Whales Accumulate During Price Dip

Responding to a market correction that saw Ether’s price drop to around $3,000, large holders, often referred to as “whales,” have actively bought the dip. Data from blockchain analytics firm Arkham Intelligence revealed that one specific whale now holds $563.9 million in direct spot ETH holdings and $818.7 million in a loan position on the decentralized lending platform Aave.

This whale recently added another $105.36 million worth of ETH in a single day and has also borrowed $270 million in stablecoins from Aave, potentially to further expand their Ether holdings. Parallel activity was noted by Lookonchain, which reported that another whale, identified as 0x9992, deposited 83,816 ETH valued at $288.6 million on Aave and borrowed $122.89 million in stablecoins to acquire more ETH, according to a post on X dated November 11, 2025.

BitMine Bolsters Holdings

These individual whale movements coincide with continued institutional accumulation. BitMine, a prominent corporate entity, increased its Ethereum holdings by 110,288 ETH over the past week. This addition brings BitMine’s total Ether stash to 3.5 million ETH, valued at approximately $12.5 billion, solidifying its position as the largest corporate holder of the asset.

The collective actions of these whales and institutional players underscore a prevailing narrative that large investors perceive the recent Ether price drawdown as a strategic entry opportunity into the market.

Technical Indicators Point to Potential Recovery

From a technical analysis perspective, Ether’s price action is currently forming a potential V-shaped recovery pattern on the daily chart. ETH is retesting its 100-day simple moving average (SMA) at $3,450, a critical level for bulls to overcome.

A sustained push above the 100-day SMA could increase the likelihood of ETH rising to its neckline at $4,172, which would complete the V-shaped pattern and represent a 21% increase from current price levels. Several analysts suggest that Ether has the potential to reach $4,000 before December, citing factors such as a falling wedge breakout, decreasing exchange supply, and Ethereum’s robust $200 billion tokenized economy.

Outlook

The recent surge in whale accumulation, coupled with significant institutional buying and favorable technical indicators, suggests a growing bullish sentiment for Ethereum. These factors collectively contribute to hopes for a substantial price recovery in the short term, potentially pushing ETH back towards the $4,000 mark.