Large Ethereum investors continue increasing their positions, even as the market sees recent price pullbacks. Their activity is reinforcing hopes that ETH could soon make a short-term move toward $4,000.
Whales Increase ETH Holdings
During last week’s market correction, Ether fell to $3,000. Several major investors used the decline as a buying opportunity.
According to Arkham Intelligence, one unknown whale accumulated more than 385,000 ETH—worth about $1.38 billion—over the past 10 days. The whale now holds $563.9 million in spot ETH and $818.7 million more through a leveraged position on Aave. Arkham noted the investor added another $105.36 million in ETH in a single day.
The same whale also borrowed $270 million in stablecoins on Aave, likely to further expand their ETH exposure. Lookonchain reported a similar move from another whale that deposited 83,816 ETH on Aave while borrowing $122.89 million in stablecoins to increase buying power.
Institutional participation is also rising. BitMine expanded its Ethereum holdings by 110,288 ETH last week, bringing its total to 3.5 million ETH valued at around $12.5 billion. This makes BitMine the largest corporate holder of ETH and strengthens the view that major players see current prices as an opportunity.
ETH Price Targeting a V-Shaped Recovery
Technically, Ethereum is forming a possible V-shaped recovery pattern on the daily chart. ETH is now retesting the 100-day simple moving average near $3,450. A breakout above this level could push the price toward the neckline at $4,172 and complete the pattern.
A move to that target would mark a gain of roughly 21% from current levels.
Several analysts believe ETH could revisit $4,000 before December. They point to a falling wedge breakout, declining exchange balances, and the continued growth of Ethereum’s $200 billion tokenized ecosystem.
