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\n\t\t\t\t\t\t\t\t\tEthereum’s biggest holders appear increasingly active again.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Ethereum (ETH) briefly plunged below the $2,000 threshold this week for the first time since March 29. While the price has since stabilized and is currently trading near $2,002, it still remains almost 60% below August\u2019s high of nearly $5,000.<\/p>\n
But data suggest that ETH\u2019s largest whales are accumulating again<\/p>\n
Wallets holding at least 100,000 Ethereum now collectively own 17.41 million ETH, the highest level in nine weeks. These holdings account<\/a> for 22.03% of Ethereum\u2019s total supply and mark a 10-week high.<\/p>\n The latest findings come after Santiment reported<\/a> that the asset\u2019s fall below $2,000 triggered a wave of \u201cbuy the dip\u201d calls from retail traders. According to the analytics firm, crypto markets typically react to sharp declines in two ways: either fear takes over, and traders begin abandoning the asset, or optimism grows as traders view lower prices as a buying opportunity.<\/p>\n The second reaction appeared to be dominating sentiment around ETH despite the recent weakness, which essentially meant that retail traders were increasingly confident that the decline represented a discounted entry point rather than a warning sign of deeper downside.<\/p>\n However, Santiment warned that excessive optimism from the crowd has historically been a bearish signal, as retail traders often misread market direction during volatile periods. The firm went on to add that a stronger buying opportunity may emerge once the current FOMO fades and sentiment shifts toward panic, which it described as a more typical setup seen near market bottoms.<\/p>\n Bearish technical signals have not completely disappeared from the market. Crypto analyst Ali Martinez, for one, said<\/a> Ethereum could see accelerated downside pressure if it records a weekly close below the $1,850 level.<\/p>\n Based on the broader channel structure, Martinez identified two potential downside targets following the rejection. The first target stands around $1,560, which he described as interim structural support, while the second target sits near $1,070, which marks the lower boundary of the crypto asset\u2019s multi-year range.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\nDownside Targets<\/h2>\n
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