Ethereum News Today: Ethereum Whales Buy $1.37B as Short Traders Lose Millions: Market Splits

Ethereum (ETH) is drawing aggressive buying from major investors as the cryptocurrency's price dropped nearly 12% in November 2025, reaching a four-month low of $3,000 before a modest rebound, according to a report from BeInCrypto. On-chain analytics firm Lookonchain reported that eight large entities collectively purchased 394,682 ETH, valued at approximately $1.37 billion, over three days, according to the same report.

The average buying price was $3,462, with the "Aave whale" emerging as the largest buyer, acquiring 257,543 ETH worth $896 million, as noted in the BeInCrypto report. Bitmine Immersion Technologies, Ethereum's largest corporate holder, added 40,719 ETH ($139.6 million) to its portfolio, aligning with its strategy of accumulating during dips, as described in the same article.

The surge in accumulation coincided with Ethereum exchange reserves hitting their lowest level since 2016, according to CryptoQuant data, as cited in the BeInCrypto report. This trend suggests investors are shifting holdings from exchanges to long-term storage, signaling growing confidence in the asset's future. On-chain metrics, including negative MVRV readings, further support the notion of a historically low-risk buying zone, according to the same report.

Meanwhile, market volatility highlighted contrasting investor behavior. A high-profile trader known as the "Former 100% Win Rate Whale" liquidated a $25 million 25x leveraged ETH short position, incurring a $1.44 million loss, according to a CoinEx report, CoinEx. This marked the fifth consecutive loss for the account, which now holds just $570,000 after a $31.47 million loss in the past month, as reported in the CoinEx article. The same whale closed another ETH short position earlier, leaving $570,000 in the account, according to a Bitget report, Bitget. These actions underscore the risks of leveraged trading amid Ethereum's recent turbulence.

The divergent strategies—aggressive accumulation by whales versus leveraged shorting—reflect broader uncertainty in the crypto market. While institutional and ultra-wealthy investors see value in Ethereum's current price, retail traders and leveraged positions face heightened exposure to rapid price swings. Analysts note that Ethereum's ability to stabilize above $3,400 could determine whether the recent buying spree translates into sustained bullish momentum, as noted in the BeInCrypto report.