Ethereum News Today: Ethereum's Outflows Signal Accumulation as Whale's 5x Bet Ignites Bullish Bets

A major institutional investor known as the "1011 Insider Whale" has closed its Bitcoin long position and shifted to a 5x leveraged Ethereum long position, signaling a strategic pivot toward the second-largest cryptocurrency. According to HyperInsight data, the whale's Ethereum position currently totals 40,000 ETH, valued at $138 million as of November 8, as reported by a LookOnChain report. This move comes amid mixed signals for Ethereum, which has faced a sharp correction but also shows signs of accumulation and resilience.

Ethereum's recent price action has been marked by significant spot outflows, with net withdrawals hitting -$359 million on November 3-the third-largest single-day outflow since October. Despite this, on-chain activity suggests investors are buying dips, a pattern historically followed by price rebounds. For example, similar outflows of $677 million on October 10 and $361 million on October 21 were later succeeded by 13% and 7.9% gains, respectively, according to a Yahoo Finance report. Shivam Thakral, CEO of Indian exchange BuyUcoin, noted that such outflows often indicate long-term accumulation, as investors move Ethereum from exchanges to private wallets. "The signal leans bullish," he told Decrypt, though he cautioned that sustained demand and favorable macro conditions would be critical for a repeat of past rebounds.

Technical indicators also highlight Ethereum's precarious positioning. The coin has fallen to an intraday low of $3,466, with analysts warning that a sustained break below $3,470 could confirm a breakdown from its multi-month consolidation range of $3,400–$4,200. The Coinbase Premium Index, a gauge of U.S. investor sentiment, has turned deeply negative, reflecting selling pressure. However, Asian exchanges continue to show positive net flows, driven by Chinese and Singaporean participants who see value near $3,500. This divergence in regional demand mirrors prior correction phases and could signal a stabilization before a gradual recovery, according to an Investing.com analysis.

Layer-2 ecosystems, including Arbitrum and Optimism, have seen continued adoption despite the broader market downturn, with total value locked remaining above $20 billion. Meanwhile, projects like Remittix (RTX) are attracting capital, having raised $27.8 million in a token sale. These developments suggest Ethereum's ecosystem remains structurally robust, even as price volatility persists, the Investing.com analysis noted.

Tom Lee, a prominent crypto analyst, has maintained a bullish outlook for Ethereum, projecting a potential return to $7,000 by late 2026. However, such a scenario hinges on renewed risk appetite and broader inflows into the crypto market. The temporary pause in the U.S.-China trade war has reduced overhangs for risk assets, but macro risks like rate cut-induced volatility and geopolitical uncertainty remain.

Ethereum is currently trading at $3,498, down 5.9% in the last 24 hours, with its 30-day performance down double digits, the Yahoo Finance report added. The "1011 Insider Whale's" shift to Ethereum underscores growing institutional confidence in the asset, even as near-term technical indicators point to a bearish phase.