Ethereum News Update: As Ethereum Faces Uncertainty, Large Investors Accumulate While Small Traders Exit Amid Price Stagnation

An enigmatic

whale, boasting a flawless track record, has seen the value of its long positions climb to $270 million, even as it faces an unrealized loss of $384,000. This comes amid a market wrestling with mixed signals from both major and minor investors. The whale’s recent moves—part of a larger $660 million Ethereum accumulation by large holders over a two-day span—have sparked renewed discussions about whether the cryptocurrency is on the verge of a recovery or stuck in a sideways trend, according to .

This whale’s buying spree, which took place from October 21 to October 23, mirrors a wider pattern of institutional-level purchases. During this window, Ethereum whales collectively acquired 170,000 ETH, raising their total holdings to 100.47 million ETH. At the current price of $3,875, this marks a 0.17% uptick in their total assets, amounting to the $660 million increase, as highlighted by Yahoo. Still, this bullishness is countered by ongoing selling from short-term traders. HODL Waves data indicates that investors holding for less than a month have been reducing their share of Ethereum since mid-October, with 24-hour holders dropping their portion from 0.887% to 0.48%. This push-and-pull—where whales accumulate as smaller players sell—has kept Ethereum’s price hovering around $3,875, a 3.7% decline over the week, Yahoo added.

Technical analysis paints a mixed picture. Ethereum’s price action remains positive, with the Relative Strength Index (RSI) showing higher lows even as prices have made lower lows since September 25. This divergence typically signals decreasing selling momentum, often preceding a reversal. The asset is also trading within an ascending triangle—a chart pattern that usually breaks upward if resistance at $3,989 or $4,137 is surpassed, according to Yahoo. However, analysts warn that whale buying alone may not be enough to trigger a breakout without broader market involvement.

Volatility across the wider crypto market highlights the limits of narratives focused solely on whale activity. A 2025

of Bitcoin’s price above $120,000 found that “mega-whales” often sell into strength, especially when retail traders are entering the market. This trend, seen during periods of heavy ETF inflows, underscores how larger factors like exchange liquidity and macroeconomic conditions can outweigh the impact of individual whales. For example, centralized exchanges now hold just 2.83 million BTC—a six-year low—making even routine trades more likely to move prices. Additionally, since early 2024, spot ETF flows have become a crucial daily indicator for , with strong inflows typically accompanying price surges, Cointelegraph noted.

The Ethereum whale’s $384,000 unrealized loss adds another layer of complexity. While its perfect win rate points to a disciplined approach, the loss reflects a recent dip in price. This fits with broader market patterns, where liquidity issues and changing positions—such as 97% of Bitcoin’s supply currently being profitable—make the market more reactive to news and capital flows, Cointelegraph added.

As the market looks for direction, analysts are watching closely to see if Ethereum can break above $3,989 and how ETF inflows might influence price action. Meanwhile, the ongoing tug-of-war between whale accumulation and short-term selling continues to illustrate the broader struggle between institutional optimism and retail caution in the crypto space, Yahoo concluded.