Finance

Ethereum Whales Scoop Up $1.37B in ETH: Will This Spark a Bull Run?

Ethereum whales bought nearly 400,000 ETH, sparking bullish sentiment and fueling price rally expectations.

November 6, 2025, 9:45 AM

3D Ethereum token on a red textured background with a decorative red wave.

A 3D physical Ethereum coin rests on a textured red surface, symbolizing investments. By Octavio Inventor / Shutterstock.com.

Executive Summary

Multiple Ethereum whales collectively acquired nearly 400,000 ETH, valued at over $1.37 billion, in a three-day accumulation spree, signaling strong bullish sentiment.

Analysts project significant price rebounds for Ethereum, with targets ranging from $4,800 to $10,000, supported by network scalability improvements and rising institutional adoption.

The upcoming December Fusaka upgrade and growing institutional interest are identified as key catalysts for Ethereum’s future growth and potential market re-entry.

The Story So Far

The recent substantial accumulation of Ethereum by large investors, or “whales,” signals a strong bullish sentiment for its long-term prospects, driven by anticipated network enhancements like the December Fusaka upgrade, ongoing scalability improvements, and increasing institutional adoption, all occurring strategically during a recent market correction.

Why This Matters

The significant accumulation of nearly 400,000 ETH by whales signals a strong bullish sentiment and could precede a major price rally, with analysts projecting potential new all-time highs of up to $10,000. This strategic buying, even amidst market corrections, suggests a tightening of supply and a robust foundation for future growth, further bolstered by anticipated network upgrades and increasing institutional adoption.

Who Thinks What?

Ethereum whales and large buyers believe in Ethereum’s long-term prospects, demonstrated by their significant accumulation of nearly 400,000 ETH during recent market fluctuations.

Market analysts, including CoinDCX and Bitget Wallet’s Lacie Zhang, project a strong rebound for Ethereum, with some targeting new all-time highs of up to $10,000, supported by network scalability improvements, rising institutional adoption, and favorable macro data.

Multiple Ethereum whales have collectively acquired nearly 400,000 ETH, valued at over $1.37 billion, in a significant accumulation spree over the past three days. This strategic buying surge, identified through on-chain data, suggests a strong bullish sentiment for Ethereum’s long-term prospects despite recent market fluctuations.

Whale Accumulation Details

The largest single buyer was an address that previously borrowed 66,000 ETH from Aave, subsequently repurchasing 257,543 ETH for approximately $896 million at an average price of $3,480. Other notable entities, including Bitmine, 7 Siblings, OTC traders, and various new wallets, have also increased their ETH positions during the recent market correction.

On-chain data further revealed that Bitmine alone added 40,719 ETH, worth nearly $140 million. Analyst Ted Pillows suggested that Bitmine’s ongoing weekly ETH purchases, reportedly between $200 million and $300 million, could rapidly tighten supply.

Analyst Outlook and Price Targets

Analysts are closely monitoring this massive whale accumulation, often seen as a precursor to significant market shifts. Many believe Ethereum is poised for a strong rebound, with some targeting new all-time highs of up to $10,000. Ethereum was trading at $3,421 at press time.

Indian crypto exchange CoinDCX highlighted a promising target of $4,800 for ETH, expecting it to soon hit $5,000. Their analysts project a potential 25-30% upside by late 2025, supported by network scalability improvements and rising institutional adoption. Technical indicators currently show a bullish uptrend following recent short liquidations.

Lacie Zhang, a Research Analyst at Bitget Wallet, characterized the current market as a “cautious calm.” Zhang noted that favorable macro data trends could see Ethereum approach $4,200, viewing the consolidation period as “constructive” for flushing out leverage and building a foundation for long-term growth and institutional re-entry.

Institutional Catalysts

The anticipation of December’s Fusaka upgrade, alongside growing institutional interest, is cited as a key bullish catalyst. This combination of factors is seen as strengthening Ethereum’s foundation for future growth and attracting further institutional re-entry into the market.

Key Takeaways

The substantial accumulation by Ethereum whales, coupled with optimistic analyst projections and growing institutional interest, underscores a strong belief in ETH’s future potential. This activity, occurring amidst market corrections and in anticipation of network enhancements, suggests a robust foundation for a potential price rally.