Ethereum is making headlines once more, as new data reveals a dramatic uptick in whale accumulation just as the ETH price rebounds from recent lows. With “mega whales” doubling down on their positions and Ethereum ETFs pushing on-chain holdings to all-time highs, investors are wondering: is this the beginning of a bullish reversal, or another fakeout?
Over the weekend, Ethereum saw a surge in addresses holding more than 10,000 ETH, signaling confidence among institutional players and long-term holders. According to on-chain data provider Glassnode, this 30-day increase in whale addresses is the strongest since early 2021.
Adding fuel to the fire, political figure Eric Trump reignited bullish sentiment with a tweet urging followers to “Buy the dips!!! $BTC $ETH,” which quickly gained over 6.7M views. While it may seem like simple hype, timing this tweet alongside ETF flows and whale data paints a much more strategic picture of what could be unfolding behind the scenes.
Mega Whales Accumulate as Ethereum ETFs Hit New Highs
The Ethereum ecosystem just witnessed a remarkable rise in ETF-related on-chain holdings. Data from Dune Analytics shows that Ethereum ETFs now hold over 4 million ETH, up from roughly 2.2 million just a few months ago. This surge has been largely driven by inflows into major institutional products like those by BlackRock, Fidelity, and Grayscale.
This kind of accumulation, especially when driven by regulated financial products, reflects broader confidence in Ethereum’s long-term value proposition. Institutional interest is not just about exposure to price appreciation, it’s about belief in Ethereum’s future as a settlement layer for Web3, DeFi, and tokenized real-world assets.
Price Analysis: Ethereum Recovers to $3,645 – Can It Sustain?
On the daily chart, Ethereum has bounced decisively off its local low of $3,491 and is currently trading near $3,645, according to TradingView data. This +4.24% rally is a strong technical signal, especially as it comes after a clean pullback from the $3,800 region.
Source: Trading View
If Ethereum can reclaim the $3,700–$3,750 range and close above with strong volume, analysts expect a move back toward the $4,000 psychological barrier. A break above that could open the door for $4,200 and potentially new yearly highs.
What’s more interesting is the confluence of this price action with the increase in mega whale addresses. It suggests that large holders are using this dip as a buying opportunity rather than panic selling, which historically aligns with upcoming bullish continuation.
Whale Activity Reaches Peak Not Seen Since 2021
According to Glassnode, the number of Ethereum addresses with 10,000 ETH or more has increased sharply in the past 30 days, reaching levels not seen since the 2021 bull run. This is more than just a technical anomaly, it reflects a shift in market psychology.
Source: Glassnode
Whales don’t buy because of hype. They buy based on data, insider sentiment, and long-term projections. The current uptick in large wallet activity is likely a response to Ethereum’s improving fundamentals: from staking rewards and Layer 2 expansion to renewed interest in DeFi protocols like EigenLayer and the Ethereum restaking narrative.
This accumulation also comes amid reduced ETH exchange balances, which means whales are pulling their tokens into cold storage or staking contracts, both of which are bullish signals.
Eric Trump’s Tweet Goes Viral – Just Hype or Hidden Signal?
While Eric Trump’s tweet may not be a fundamental indicator, it certainly reflects shifting sentiment. His post encouraging followers to “Buy the dips!!!” for Ethereum and Bitcoin isn’t investment advice, but it captured 6.7 million views within hours, bringing mainstream attention back to crypto markets.
Combined with real on-chain movement and ETF inflows, this kind of social engagement can ignite short-term bullish rallies, especially when retail sentiment aligns with institutional action.
Final Thoughts: Is Ethereum Ready for the Next Leg Up?
Ethereum is showing clear signs of institutional accumulation, mega whale confidence, and positive technical structure. With on-chain ETF holdings at record levels and whale addresses spiking, the groundwork is being laid for a potential breakout beyond $4,000.
Source: Dune Analytics
However, investors should remain cautious. While these signals are encouraging, Ethereum still faces macroeconomic risks and resistance levels that could slow momentum. That said, when both Wall Street and whales are moving in sync, it’s hard to ignore the bullish implications.Keep an eye on the $3,700 resistance, if ETH breaks above it with strength, we could be witnessing the early stages of a broader market reversal.
