Ethereum whales have resumed aggressive accumulation, with one entity withdrawing $12.5 million in ETH from OKX and depositing it into Aave, indicating strategic capital rotation. Two dormant addresses reactivated to purchase $10.9 million worth of ETH, while trader Machi increased his leveraged long position despite a swing from $44.8 million profit to a $29.2 million loss. Ethereum’s price action remains within a descending channel, facing resistance near $2,261. Market data shows rising open interest and a predominant long bias among top traders on Binance, highlighting intensified leverage and volatility.
Ethereum whales have resumed aggressive accumulation as large wallets withdraw over $12.5 million in ETH and redeploy fresh capital. Lookonchain data showed one whale withdrawing 6,114 ETH worth $12.52 million from OKX and depositing it into Aave.
Two dormant addresses reactivated after three months and spent $10.93 million to acquire 5,350 ETH at $2,043. Meanwhile, Machi increased his 25x leveraged ETH long after depositing another $250,000 USDC into HyperLiquid.
Ethereum continues trading inside a defined descending channel on the daily timeframe. Price recently tapped the lower boundary near $1,800 and reacted strongly as buyers defended that zone.
The upper trendline caps upside attempts near the $2,200–$2,300 region, with $2,261 as immediate resistance and $2,797 as a major overhead barrier. Momentum indicators show a gradual recovery, with the RSI at 44.74 and its signal line at 37.95.
Derivatives positioning has increased alongside renewed whale participation. Open Interest has risen 6.39% to $25.82 billion, signaling fresh capital entering futures markets.
Positioning data showed Binance top traders holding a 1.72 long/short ratio, with long accounts representing 63.17% and short accounts at 36.83%. This skew reflects persistent bullish exposure among experienced participants.
Whale accumulation and leveraged expansion now define Ethereum’s recovery phase, but the descending channel still frames the broader structure. If buyers reclaim $2,261 with strength, upside continuation could accelerate.
