A significant market player has shown activity by investing a substantial amount in ETH despite overall negative trends in the market.
Whale Investments in Ethereum
A major Ethereum whale, using wallet address 0xd8d0, invested $73 million in ETH during the recent price fluctuations. According to data from Lookonchain, the whale acquired 30,000 ETH, with total investments amounting to approximately $295 million, allowing it to accumulate 115,465 ETH at an average price of $2,555. However, with the current Ethereum price at $2,444.91, a 4.14% decline in the past 24 hours has temporarily resulted in a loss of about $15 million.
Outflows from Ethereum ETFs
While whales continue to accumulate assets, Ethereum ETFs are showing signs of strain. According to Farside, on June 20, Ethereum ETFs recorded $11 million in outflows, marking the second such event this month. Earlier, on June 13, Ethereum ETFs also experienced $3 million in outflows. In contrast, on June 12, BlackRock added over $160 million worth of ETH to its holdings, marking the largest daily ETF inflow since February 2023.
Technical Indicators for Ethereum
Technical signals are also showing potential bullish trends. Ethereum recently bounced from the $2,450–$2,475 range, where the 50-day and 200-day moving averages intersect. This created what is known as a "Golden Cross," which typically indicates a change in long-term momentum. Following this setup, ETH briefly surged above $2,540, signaling renewed buyer interest.
In summary, despite ETF outflows and price volatility, whale activity and technical indicators such as the Golden Cross may suggest a forthcoming bullish phase for Ethereum.
