Buy Ethereum Dip? Larger Whales Aren't Backing Down Under Pressure

Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Attention from whales Institutional-grade attraction Advertisement Ethereum has experienced a severe collapse, plunging below crucial support levels and widening losses as overall market sentiment declines. However, some of the biggest players in the market seem to be acting in the exact opposite way from retail traders, who are becoming more cautious. Attention from whales On-chain data indicates that the entity referred to as 7 Siblings borrowed an additional $20 million in USDT from Spark and started accumulating ETH right away . The group still has about $16 million in reserve capital for future purchases, having spent about $4 million to acquire 2,254 ETH thus far. ETH/USDT Chart by TradingView The timing is significant. Ethereum is now below its major moving averages after breaking out of a multi-week consolidation pattern. The price is currently trading close to $1,760 after a clear rejection from the $2,300-$2,400 resistance area on the daily chart. The market is under tremendous selling pressure, as momentum indicators have moved into extremely oversold areas. Extreme weakness has historically drawn sophisticated buyers rather than momentum traders. HOT Stories XRP, Zcash (ZEC), Cardano (ADA) and Near Protocol (NEAR) Price Analysis for June 4: Hostile Environment for Bulls 'Embarrassing': Canadian Billionaire Slams Cathie Wood's Bitcoin Price Predictions You Might Also Like Thu, 06/04/2026 - 00:01 XRP, Zcash (ZEC), Cardano (ADA) and Near Protocol (NEAR) Price Analysis for June 4: Hostile Environment for Bulls By Arman Shirinyan Advertisement When liquidity is plentiful and retail participants are selling their positions during panic-driven selloffs, large investors often accumulate. Whale accumulation does not, however, necessarily indicate an instant reversal, so traders should be careful. Although Ethereum's daily trading volume is measured in the billions of dollars, the remaining $16 million in purchasing power is substantial. A market-wide trend cannot be reversed by a single whale, or even a few large entities, if overall sentiment is still negative. Institutional-grade attraction Psychological signals are more significant. It appears that some institutional and high-net-worth participants see current prices as appealing long-term entry points rather than reasons to exit, if large leveraged buyers continue to allocate capital during a severe correction. Advertisement Ethereum may start to form a local bottom as selling pressure is absorbed if 7 Siblings keeps making large purchases and other big wallets follow. Before any significant recovery occurs, stabilization periods are frequently preceded by such accumulation phases. Ethereum is still technically weak and susceptible to more declines for the time being. However, the willingness of big players to take out new loans and capitalize on weakness suggests that the market's conviction has not vanished. Whether this whale activity is the start of a larger accumulation phase or just another attempt to catch a falling knife during a challenging correction will probably be determined over the next few days. #Ethereum #ETHUSD