- ETH whales keep buying even as prices fall, showing strong long-term confidence in Ethereum.
- Traders heavily favor ETH longs, while short positions face massive liquidations across major exchanges.
- Inflows into ETH accumulation addresses hit record highs, signaling rising conviction among big holders.
Ethereum (ETH) whales continue their aggressive accumulation even as prices slide, signaling growing confidence among long-term holders. Analyst CW reported on X that full-scale ETH accumulation by whales began in May 2025, when the price hovered around $2,500.
Currently, the price of ETH is around $2,000, which makes it more attractive to big investors. CW noted that the flow of funds to accumulation addresses, which are used to store, not trade, coins, remains robust, indicating that big investors do not focus on the price fluctuations.
Historical data shows that the trend of inflows into accumulation addresses has been increasing over the years. Between 2018-2020, the flow into accumulation addresses was low and inconsistent, whereas the price of ETH was in a decline, after which it started to recover gradually. However, in 2023, the flow started to pick up, increasing in 2024 and 2026.
Regardless of the state of the market, large investors have been steadily increasing their holdings of Ethereum, as evidenced by the large flows that took place during the rallies and corrections. The flow into accumulation addresses reached a record high in 2025, demonstrating large investors’ growing belief in retaining the asset for the long run.
Bullish Trader Sentiment on Major Exchanges
Meanwhile, trading data shows strong bullish sentiment across exchanges. CoinGlass reports reveal traders heavily favor long positions in ETH, even as short positions face mass liquidations. On Binance, the ETH/USDT long-to-short ratio stands at 1.78, showing significantly more accounts betting on price increases. OKX displays a similar 1.71 ratio.
Among Binance’s top traders, the long-to-short account ratio reaches 2.31, reinforcing a bullish tilt. By position size, longs slightly moderate to 1.34, but still dominate short allocations.
Liquidation data underscores this trend. In one hour, $6.96 million in positions were liquidated, with $6.11 million from shorts. Four-hour liquidations climbed to $9.61 million, dominated by short positions at $6.66 million. Over 12 hours, $39.9 million in liquidations occurred, including $24.58 million in shorts. Over 24 hours, $104 million in positions were wiped out, $74.9 million of which were shorts versus $29.27 million in longs.
