- Big Ethereum investors are buying again, adding over 218,000 ETH after selling millions earlier this month.
- Experts believe Ethereum could climb toward $6,000 or even $7,400 if the current rebound continues.
- The steady buying and stable prices show growing trust among investors and signs of a stronger Ethereum market ahead.
Ethereum’s large holders are regaining confidence after weeks of sharp distribution earlier in October. According to Santiment, wallets holding between 100 and 10,000 ETH have added 218,470 ETH in the past week.
This renewed accumulation came after these investors dumped around 1.36 million ETH between October 5th and 16th, marking one of the biggest outflows this quarter. The total holdings of these wallets now stand at 23.05 million ETH as of October 23, 2025.
Whales Return After October’s Major Sell-Off
Before the October correction, these wallets held close to 24.5 million ETH, reflecting strong accumulation through mid-year. The sharp decline that followed indicated a heavy profit-taking phase among large investors.
However, the recent increase in buying shows that confidence is slowly coming back among major Ethereum holders. Santiment noted that “Ethereum whales and sharks holding between 100 to 10,000 $ETH are finally showing some signs of confidence.”
During this time, Ethereum’s price compared to Bitcoin stayed in a tight range between 0.035 and 0.038 BTC. The price moved almost in step with whale activity, showing a link between their buying patterns and market stability.
Between February and July 2025, both price and holdings trended higher, but a strong decline began by late September. Consequently, the recent inflows mark the first significant recovery phase since that downturn.
Technical Structure Points to Next Wave Higher
Meanwhile, technical analyst Stockmoney Lizards provided an in-depth Ethereum outlook on X. The analyst stated that “ETH’s current move looks like a textbook 5-wave impulse structure, with the ongoing correction likely forming wave (4).”
The correction phase remains shallow and time-consuming, often designed to shake out late entrants. Based on Fibonacci Extensions, potential wave (5) targets stand at $5,940, with an extended upside toward $7,400. The wave pattern remains valid as long as prices stay above the prior wave (4) base.
Moreover, this structure aligns with renewed optimism and increasing retail participation. Hence, both technical and on-chain data indicate that Ethereum is stabilizing after its early October slump.
