- A Bitcoin whale swapped $2.55B for 544K ETH in 6 days, showing rising big-money confidence in Ethereum.
- Ethereum must hold $3,900–$4,000 support to target $6K–$8K, or risk dropping to $3,200 levels.
- Strong buying at dips and higher lows signal whales and institutions are betting on Ethereum’s long-term growth.
Ethereum market is witnessing a dramatic shake-up as a legendary Bitcoin holder shifts billions into ETH within days.
According to Lookonchain, this “Bitcoin OG,” who once received 100,784 BTC, has sold Bitcoin while accumulating Ethereum.
The trader deposited nearly 22,769 BTC worth $2.59 billion to Hyperliquid and then bought 472,920 ETH worth $2.22 billion. Additionally, he opened a massive long position of 135,265 ETH valued at $577 million.
Besides that, the investor has now closed 130,564 ETH long contracts at an average of $4,692, securing a profit of $42.5 million. He then bought 33,381 ETH in spot worth $155 million.
Consequently, his total ETH purchases over the past six days reached 544,977 tokens, worth $2.55 billion, all staked immediately. This move marks one of the most aggressive transitions from Bitcoin to Ethereum seen in recent years.
Technical Picture and Price Zones
Meanwhile, Ethereum’s technical structure shows critical resistance and support levels shaping near-term moves. According to analyst Crypto Patel, ETH recently hit a new all-time high of $4,957 before retracing to $4,400.
Strong support, according to his chart, is located between $3,900 and $4,000. Holding this zone, Patel emphasized, offers the possibility of upside toward $6,000 to $8,000. A breakdown, though, might force prices back down to $3,200 or possibly $3,500.
Additionally, TradingView chart data shows recurring conflicts with resistance at $4,100. Before purchasers intervened, each attempt was subjected to intense selling pressure. During downturns, a demand zone between $2,600 and $2,900 offered stability.
Furthermore, ETH rose 51% from previous lows to $4,425 following the most recent rise. Strong market involvement is demonstrated by trading volumes of 42 million, which supports the upward momentum.
Market Structure and Accumulation
Furthermore, Ethereum is forming higher lows across multiple cycles, a sign of strengthening long-term demand. Institutional players appear to accumulate during dips, while retail traders distribute during rallies. Hence, this structure suggests deeper conviction among large investors, supporting Ethereum’s broader uptrend.
Ethereum is gaining massive institutional flows as whales rotate out of Bitcoin. Holding $3,900–$4,000 remains key to unlocking higher targets.
