Ether Tumbles 10% on the Week, But $300M Whale Accumulation Signals Long-Term Confidence
Ethereum’s native token, ether (ETH), fell nearly 10% this week, breaking a five-week winning streak as renewed macroeconomic concerns dragged down high-risk assets. The selloff pushed ETH below $3,400, reflecting profit-taking and broad-based weakness across the crypto sector.
Despite the pullback, one notable buyer moved against the trend. According to Arkham Intelligence, a single whale acquired approximately $300 million worth of ETH during the decline—an aggressive “buy-the-dip” move that has sparked discussion of a potential bullish divergence between price action and investor behavior.
“Large-scale accumulation like this typically reflects a long-term thesis, not short-term speculation,” said one market analyst. “It’s a strong signal of conviction amid short-term volatility.”
The broader market backdrop turned cautious following weaker-than-expected U.S. jobs data and a firming dollar, both of which weighed on sentiment. Risk-off flows hit altcoins especially hard, with meme tokens and DeFi assets among the worst performers.
Meanwhile, bitcoin (BTC) proved more resilient, dropping just 4.5% over the same period. That outperformance confirms a near-term sentiment shift in favor of BTC, as seen in options flow and institutional allocation trends.
Still, the whale accumulation in ETH complicates the bearish narrative. The size and timing of the purchase suggest positioning for a longer-term rebound, even as ETH battles to hold technical support.
With Ethereum trading near a key psychological level, market participants will be closely watching whether institutional demand can offset ongoing selling pressure—or whether this week’s dip extends further.
