After a strong rally last month that pushed Ethereum to a fresh all-time high near $5,000, the altcoin has experienced choppy price action. However, Ethereum is now making a push to reclaim the crucial $4,500 level as deep-pocketed ETH whales quietly accumulate in the background.
Ethereum is seeing steady accumulation from mid-sized whales and sharks holding 1,000 to 100,000 ETH. Over the past five months, these influential investors have boosted their holdings by 14 percent amid growing confidence, according to data from Santiment. This accumulation trend began when ETH was trading near yearly lows of around $1,400 to $1,800.
Analysis from Altcoin Vector reveals that Ethereum is breaking free from bearish compression that has weighed on its price, though a decisive push beyond $5,000 depends on renewed whale accumulation. Between mid-July and August, mega whales holding at least 10,000 ETH and large whales with 1,000 to 10,000 ETH significantly increased their holdings. These accumulation periods coincided with the development of Ethereum’s aggregate price impulse, highlighting the influence of strong hands on momentum.
For ETH to clear the all-time high zone without stalling, a similar wave of conviction-driven accumulation is essential. While derivatives-led speculation has played a larger role in recent price movements, a breakout above resistance could boost spot-driven confidence and spark the next strong impulse.
Crypto analyst Ali Martinez reported that 500,000 ETH, worth approximately $2.
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