Ethereum Whales Accumulate as Price Eyes $10K Breakout

• Ethereum whales like The Ether Machine now surpass the Ethereum Foundation in holdings, signaling rising institutional confidence.
• Ethereum’s 2025 cycle mirrors 2021 but shows stronger momentum, with breakout signs suggesting a rally toward the $10,000 mark.
• Despite $1B in liquidations, institutions are accumulating ETH while retail panics, hinting at a potential supply squeeze-driven breakout.

Ethereum is flashing signs of a powerful breakout as institutional whales intensify their accumulation. In a dramatic overnight twist, the crypto market witnessed nearly $1 billion in liquidations. Ethereum prices dipped briefly, only to show early signs of recovery. Despite the panic from retail investors and bearish “influencers,” top holders have doubled down. 

According to well known sources, a wallet known as “The Ether Machine” recently bought 15,000 ETH—now holding more ETH than the Ethereum Foundation itself. This development signals growing confidence from high-net-worth players even amid rising volatility.

Bitmine Immersion Tech currently tops the list of ETH holders with 625,000 ETH worth over $2.4 billion. Other key players include SharpLink Gaming and BTCS Inc., which posted monthly growth rates of 283% and 379%. 

While the Ethereum Foundation reduced its reserves by 6.72%, institutions and DeFi entities continue to load up. Coinbase, a centralized exchange, still holds 137,300 ETH—further highlighting institutional involvement across sectors.

Ethereum’s Cyclical Pattern Signals Strength

A recent chart shared by Crypto GEMs compares Ethereum’s current cycle with the 2021 bull run. Back then, ETH rallied from $250 to over $4,250 before crashing. The price staged a short recovery, forming what analysts call a “dead cat bounce.” That bounce eventually collapsed, setting the stage for a deeper correction. However, today’s cycle shows a key difference.

Source: Crypto GEMs

Ethereum has followed a similar correction-bounce structure, but it now appears to be breaking out far more aggressively. Unlike the 2021 consolidation phase, the 2025 cycle suggests bullish momentum is building faster. An arrow points toward $10,000, a level now appearing within reach.

Institutions Buy While Retail Panics

Overdose, a respected crypto trader, emphasized that panic often precedes major rallies. Retail sentiment flipped bearish after the dip, but seasoned investors stayed composed. Volatility remains high, but Ethereum’s fundamentals look stronger than ever.

Moreover, growing whale activity supports the bullish case. With supply concentrating in fewer hands, ETH could face a supply squeeze. Hence, short-term corrections may only be temporary setbacks. Consequently, Ethereum appears to be preparing for a major breakout. If current trends hold, the $10,000 target may arrive sooner than expected.