Ether (ETH) price saw a daily candle close below $3,000 on Tuesday, but a positive is that data showed large holders were buying throughout the dip. While ETH whale accumulation signals growing confidence, conflicting indicators suggest rising market risk for the altcoin.
Key takeaways:
-
ETH whales and institutional investors bought over $130 million in Ether as the price closed below $3,000 on Tuesday.
-
BitMine added more than 92,500 ETH in January, showcasing the growing demand for staking yield.
Whales bought the dip as ETH traded below $3,000
ETH dropped 7.83% to $2,938 on Tuesday, marking its largest daily correction since November 4, 2025. Despite the drop, onchain tracker Lookonchain reported ETH accumulation from whales and institutional investors.
According to the data, Trend Research borrowed 70 million USDt (USDT) from Aave to buy 24,555 ETH worth $75.5 million, bringing its total holdings to 651,310 ETH valued at $1.92 billion. Separately, an OTC whale address acquired 20,000 ETH, worth $58.8 million, via FalconX and Wintermute.
Institutional investor accumulation of ETH extended beyond trading desks. BitMine has added 92,511 ETH in January, valued at $268 million.
The ETH treasury company said it expects to become the largest Ethereum staking entity once its planned 4.2 million ETH is fully staked, generating an estimated $367 million to $393 million annually in staking rewards. The company added that it projects another $35 million to $40 million in income from cash operations.
However, not all large capital flows were supportive. On Wednesday, BlackRock transferred 30,828 ETH worth about $91 million to Coinbase Prime, fueling concerns over potential sell-side volatility.
Related: ETH derivatives metric turns positive after years of sell-side dominance
ETH breaks uptrend as downside liquidity comes into focus
From a technical standpoint, ETH’s longer-term chart suffered a bearish shift after closing below $3,000. The move also pushed the price below the four-month point of control near $3,100, the level where the highest volume traded over that period, signaling that the market has lost its most accepted price range.
The breakdown coincided with a bearish break of structure (BOS), suggesting trend continuation to the downside. Based on current liquidity clusters, ETH could eventually test external liquidity zones around $2,718 and $2,620.
Over the past 24 hours, $287 million in leveraged positions were liquidated, with longs accounting for $257 million, highlighting forced selling pressure.
Data from Hyblock adds to the cautious mood. The whale versus retail delta has flipped negative, falling to -6,480 for ETH, indicating that whales are reducing their long exposure or adding shorts more aggressively than retail traders. Such shifts have preceded periods of heightened short-term volatility.
On the other hand, 76% of retail traders are in long positions, pointing to the potential for a price reversal near the key swing lows.
Related: Bitcoin-to-gold ratio falls to new low, but analysts say BTC’s discounted ‘setups are rare’
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
