ETH Whales Resume Large Buys as Bulls Set Sights to Regain Lost Ground

Bitcoin and other assets saw similar positive figures amid a wider crypto market recovery.

Cryptocurrency markets showed signs of recovery on Wednesday, with buying pressure returning to the market. Key figures showed a rise in Ethereum buying activity by wallets holding between 100,000 and 1 million assets, accumulating over 1.1 million assets.

This buying activity contributed to a total market capitalization of over $392 billion and a price consolidation at $3,260. ETH prices also saw an increase of 5% for the day, with volume spiking by 33%.

Overall, active wallets on the Ethereum network increased to 784,000, boosting trader confidence. Activities by large holders played a role in determining market sentiment, with traders gauging price peaks and potential corrections based on these activities.

Heavy selling pressure was observed as large holders dumped assets in the market. However, 13 wallets acquired 10,000 ETH within the last 24 hours, sending bull signals to traders. Most holders also transferred funds out of centralized exchanges, indicating long-term holding strategies.

Previously, ETH prices faced difficulties breaking their all-time highs, despite the approval of a spot ETF.

According to onchain lens, “A whale has bought 1,531 $ETH for $5.01M $USDC at an average price of $3,277 in the past 40 minutes. The whale currently holds a total of 3,005 $ETH worth $9.85M, across 2 different wallets. Address: 0x226862a0428280c4ed512388055892b20b1ab7fe Other Wallet: 0x3cbfb4c1d3ad636fa4e35c23e6b3133d2305fd3e.”

Several digital asset commentators have expressed optimism for an ETH price surge above $5K in the next bull peak. Despite a slow start, on-chain factors are indicating an upward trajectory for the altcoin leader.

Institutional demand has also seen a spike this year, following Donald Trump’s inauguration and his pro-crypto nominations. Clear-cut policies are expected to shape the United States regulatory landscape, setting the tone for further gains.

Meme coin figures, swinging along the market, will propel traders into the cycle peak. Nonetheless, analysts caution against rapid short-term corrections that could impact traders.

An example of this was the recent dip triggered by the launch of Chinese AI startup DeepSeek and its impact on U.S. tech stocks.