Ethereum News Today: Whale Resurgence Sparks Battle Between Sellers and Buyers in Ethereum's Rangebound Dilemma

Ethereum’s market activity on Sept. 8 highlighted significant whale transactions, as a major Ethereum whale sold 2,929.6 ETH on HyperUnit for $12.64 million in USDC at an average price of $4,315 per ETH. This move added to broader market dynamics involving large-scale Ethereum holders reactivating their dormant positions.

The sale occurred against a backdrop of mixed market sentiment. Ethereum’s price had remained rangebound near $4,303, fluctuating between $4,200 and $4,600 in recent weeks. While the sale indicated a potential bearish signal, other whale movements suggested a more nuanced picture. For instance, a different Ethereum whale—part of the 2014 ICO—activated after eight years, staking 150,000 ETH worth approximately $659 million. This whale initially secured 1 million ETH for just $310,000, and as of the sale, their remaining holdings totaled $4.4 billion.

The resurfacing of long-dormant whales reflects a trend in the broader crypto market. According to data from Lookonchain, Ethereum’s staking layer surpassed 33 million ETH in 2025, as older investors increasingly participated in staking with stable yields and a maturing proof-of-stake model. Meanwhile, the same platform reported that a separate Ethereum whale moved 58,938 ETH, valued at $254 million, with $91.54 million of that sent to Bitfinex, suggesting a possible selling intent.

Despite these selling pressures, the market remained largely resilient. On-chain analytics showed buyers absorbing the whale-driven liquidity, with Ethereum’s price largely unaffected by the large transactions. According to CryptoQuant data, exchange outflows exceeded inflows, reaching 89,200 ETH compared to 79,450 ETH in inflows. This net outflow of -9.7k ETH indicated strong spot accumulation by market participants. Momentum indicators also provided mixed signals, with the ADX slipping to 18.3 while the DMI showed bullish crossover potential. The Relative Vigor Index (RVGI) remained above its signal line, suggesting continued buying pressure.

The interplay between whale activity and market resilience has sparked speculation about Ethereum’s next price direction. While sellers have shown cautious exits, buyers appear to be accumulating aggressively, especially on exchanges. Santiment data revealed that dormant circulation had declined across long-term cohorts, indicating selective profit-taking rather than broad panic. For instance, the 180-day cohort’s circulation dropped from 189k ETH to 1,500 ETH, while the 2–5 year cohort saw a similar drop from 18.8k ETH to 1.7k ETH. These declines suggest long-term holders are not capitulating but are instead strategically managing their positions.

Looking ahead, the market will likely remain in a consolidation phase until either buyers or sellers assert dominance. If on-chain demand fails to recover, Ethereum could fall below $4,200, with $4,078 as the next potential support level. Conversely, sustained buying pressure may help the token reclaim $4,500 and test the $4,800 resistance. With multiple whales now reactivating positions, the coming weeks will be critical in determining whether Ethereum continues its bearish consolidation or transitions into a new bullish phase.

Source:

[1] Ethereum whale moves $254 mln after 6 years (https://ambcrypto.com/ethereum-whale-moves-254-mln-after-6-years-are-buyers-taking-over-eth/)

[2] Ethereum ICO Whale Stakes $646M ETH After Three Years ... (https://www.coindesk.com/markets/2025/09/05/ethereum-ico-whale-stakes-usd600m-after-three-years-dormant)

[3] 1,000,000 Ethereum ICO Whale Exits 8-Year Dormancy (https://finance.yahoo.com/news/1-000-000-ethereum-ico-095330857.html)