Ethereum (ETH) Price: Whales Accumulate 700K ETH as Bullish Indicator Flashes

TLDR

• Ethereum whales accumulated roughly 700K ETH between Thursday and Monday
• ETH ETFs recorded eight consecutive days of net inflows totaling $493.7 million
• Bitmine purchased 101,627 ETH last week, their largest single-week buy of 2026
• ETH’s SuperTrend indicator flipped bullish for the first time since early 2025
• Funding rates stayed negative for six days, pushing ETH back below $2,400

Ethereum is trading around $2,300 after a week of heavy whale accumulation and strong ETF inflows, even as futures market pressure keeps a lid on price gains.

Wallets holding more than 10,000 ETH accumulated nearly 700,000 ETH between Thursday and Monday, according to CryptoQuant data. Ethereum exchange reserves have dropped by roughly 458,000 ETH since Thursday, a sign of increasing buying pressure.

Institutional buyers are also active. ETH spot ETFs in the US recorded eight straight days of net inflows totaling $493.7 million, according to SoSoValue data.

Bitmine Immersion Technologies made the largest single-week ETH purchase of 2026, buying 101,627 ETH. That brings their total holdings to 4.976 million ETH. Bitmine Chairman Tom Lee stated that the end of the crypto winter may be closer than most expect, citing historical patterns going back to 2015.

Lee pointed out that every crypto winter since 2015 coincided with an equity market drawdown of at least 20%. The 2026 equity drawdown was only 8%, which he used to argue the current downturn may be shorter.

Smart money tracker Lookonchain flagged several whale transactions during the week. One newly created wallet withdrew 35,000 ETH from Binance and transferred it to custodian BitGo.

SuperTrend Flips Bullish

Analyst Ali Martinez posted on X that Ethereum’s daily SuperTrend indicator has flipped bullish for the first time since early 2025. Martinez noted that the last time this flip occurred, it preceded a bull rally. He also pointed out that Bitcoin has not yet broken its own SuperTrend resistance line.

Futures Pressure Remains

Despite strong spot demand, Ethereum funding rates stayed negative for six straight days. This signals that futures traders are leaning bearish, pushing price back under $2,400.

ETH saw $53.4 million in liquidations in the past 24 hours. Long liquidations led at $28.4 million.

On the four-hour chart, ETH sits above its 20-, 50-, and 100-period EMAs, clustered between $2,268 and $2,323. Resistance sits at $2,388, with support at $2,267 and $2,263.

The 14-day RSI sits at 55, showing more buyers than sellers. However, the 9-day Stochastic and 14-day Stochastic RSI both sit near 40, pointing to fading upward momentum.

ETH rose from around $2,155 to over $2,320 over the past 30 days but is down roughly 2% on the weekly chart from a high of $2,450.

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