‘Time to buy Ethereum？’ – Why whales are stacking ETH below $2K

A new whale is causing a stir in the cryptocurrency market after taking out about $21.7 million in assets from the institutional trading platform FalconX. These assets included $7.3 million in Hyperliquid [$HYPE], and $14.4 million in Ethereum [$ETH].

That said, the investor amassed $ETH close to a recent local low, and entered $HYPE during its peak.

Source: Arkham

Within 24 hours, the position was already displaying an unrealized gain of about $400,000, despite the divergent entry points. This suggests that prices were still moving in the whales favor.

Given that FalconX primarily serves high-net-worth and institutional clients, such significant transactions are frequently considered an indication of confidence in assets.

Mixed sentiments around $ETH

Meanwhile, Michaël van de Poppe, an analyst, stated that he had a long-term bullish outlook for Ethereum.

He believes that $ETH will see a significant increase in value over the next five to ten years, and that the current prices represent a unique buying opportunity.

Source: X

At the same time, Arthur Hayes paid an average price of $1,793 per $ETH in the past week, amassing 5,900 $ETH valued at roughly $10.58 million.

Nevertheless, he sold 6,000 $ETH for about $10.14 million at an average price of $1,690, lower than his purchase cost. The trade resulted in a realized loss of roughly $606,000. Lookonchain described this as ‘buying high and selling low again.’

Typically, investors aim to buy low and sell high, but in this case, Hayes locked in a loss by purchasing at higher prices and selling at lower ones.

Ethereums market dynamics

Taken together, these signals suggest a market where institutional accumulation and bullish narratives sustain long-term belief in Ethereum, despite short-term volatility and varying trading strategies producing mixed price action.

This came as the price of $ETH was trading at $1,734.82 at press time, following a slight increase over the previous day.

Meanwhile, CryptoQuant‘s Ethereum’s Spot Taker CVD (Cumulative Volume Delta) over a rolling 90-day period indicates that spot market sentiment has changed in favor of buyers. This comes after an extended period of aggressive selling.

Source: CryptoQuant

In the past, these transitions from selling to buying have frequently signaled the beginning of bullish momentum and a possible longer-term rebound.

All this happens while, the U.S. spot ETFs institutional demand has turned negative, keeping the price of $ETH below $2K in late Q2.

Final Summary

• Long-term trust in Ethereum is still supported by bullish narratives and institutional buying, despite varying trading strategies.
• Prior shifts from seller dominance to buyer dominance have frequently indicated the early stages of bullish momentum for $ETH.