"Whale's $2.1M Bet Boosts ENA 6% Amid Crypto Uncertainty"

Ethena (ENA) has surged by 6% following a significant purchase by a large-scale investor, also known as a "whale." This move comes amidst a backdrop of uncertainty in the broader crypto market, with Bitcoin approaching new lows of $80K.

The dip-buying strategy employed by the investor has led to a notable increase in ENA's price. Coinglass data confirms this accumulation by market-moving players, with ENA outflows worth approximately $2.10 million in the previous 24 hours. Additionally, IntoTheBlock data indicates an over 1,000% increase in ENA's large transactions within the past day, suggesting strong institutional interest.

ENA is currently trading at $0.4368, having gained over 6% in the past 24 hours. Despite broad-based bearish sentiments, the prevailing whale interest could keep ENA prices afloat in the near term. The latest jump has pushed Ethena above the crucial support barrier of $0.41, where the altcoin has historically reversed with stability.

Analysts forecast bounce backs despite the visible market weakness. Michael van de Poppe, a prominent crypto analyst, stated that Bitcoin collected liquidity below $85K with its latest plunge below $83K. He believes that the chances of having the low here are substantially high and expects altcoins to outperform from here for the remainder of 2025.

If ENA can sustain its price above $0.36, it could cement the $0.41 foothold in the upcoming days. This could catalyze upswings to $0.65, representing a nearly 50% surge from Ethena's current price. However, broad market trends will influence ENA's price actions in the upcoming sessions. Continued Bitcoin dips may delay the anticipated Ethena surge in the near term.