Unusual Whale Activity in Crypto Markets: Strategic Entry Points for Retail Investors Amid Ethena and Major Token Volatility

The crypto market in October 2025 is witnessing a seismic shift driven by whale activity, with large investors reshaping price dynamics across Ethena (ENA), Bitcoin (BTC), and Ethereum (ETH). For retail investors, understanding these movements is critical to identifying strategic entry points while mitigating risks in a volatile landscape.

Ethena: Whale Accumulation and Technical Breakouts

Ethena has emerged as a focal point for whale activity, with on-chain data revealing aggressive accumulation by institutional and high-net-worth players. A multisig wallet linked to Ethena's founder recently added 48 million ENA ($20.4 million) from Binance and Bybit in just three days, signaling deep conviction in the token's long-term potential, according to Bankless Times report. Meanwhile, wallets holding 10,000–100,000 ENA have increased their combined balance to 82.6 million tokens, a 12% rise in a week, The Market Periodical reported. This accumulation coincides with strong technical indicators: the Chaikin Money Flow and Awesome Oscillator show sustained buying pressure, while ENA remains above its 50-day and 200-day exponential moving averages, as shown in an OKX analysis.

Retail investors should monitor key resistance levels. A breakout above $0.40-a critical accumulation zone-could trigger a rally toward $0.50 and eventually $1.20, as seen in historical patterns, The Wealth Studio found. However, historical backtesting of ENA's resistance level breakouts from 2022 to 2025 reveals that this strategy has not consistently delivered positive returns. A review of 46 resistance-break events shows an average negative cumulative return over 30 days, with win rates declining from 56% on day 1 to 44% by day 30. This suggests that while a breakout may indicate potential, it does not guarantee sustained momentum. Caution is warranted. Over 140 million ENA were sold in late September, creating a risk of profit-taking or panic selling if short-term targets are met, ChainAffairs reported.

Bitcoin and Ethereum: Divergent Whale Strategies

Bitcoin's whale activity in Q4 2025 has been mixed. A massive 80,000 BTC sell-off ($9 billion) by Galaxy Digital failed to push prices below $118,000, as institutions like Anchorage Digital quietly accumulated 10,141 BTC ($1.19 billion), according to a BitJournal report. This divergence highlights Bitcoin's internal conflict among large holders. Conversely, Ethereum whales have shown unified confidence. A single whale purchased 40,000 ETH ($153 million) via Galaxy Digital's OTC desk, while BitMine Immersion added 128,718 ETH ($480 million) from exchanges, as noted in another BitJournal piece. Ethereum's price has surged above $3,800, reflecting this coordinated accumulation.

Retail investors should note Ethereum's whale-driven momentum. Exchange outflows-such as Binance's 1.616 million ETH withdrawal-signal long-term positioning, making ETH a safer bet for those seeking exposure to whale-aligned assets, according to a BeInCrypto analysis.

Strategies for Retail Investors: Tracking Whales and Managing Risk

1. Leverage On-Chain Analytics
   Tools like Nansen, Whale Alert, and Arkham Intelligence provide real-time insights into whale movements, as highlighted in a CryptoChartIndex guide. For example, tracking ENA's 48 million token accumulation by the founder's multisig can help retail investors time entries ahead of potential breakouts. Similarly, monitoring Ethereum's exchange outflows (e.g., FalconX's 118,190 SOL withdrawal) offers clues about institutional positioning, as summarized in a CryptoNews roundup.

2. Volume and Options Analysis
   Sudden spikes in trading volume without clear news catalysts often indicate whale intervention. In Ethena's case, a 32 million ENA purchase by 1–10 million wallets in 24 hours coincided with a 16% price surge, a Currency Analytics report shows. Retail investors should also watch options activity-large put or call purchases by whales can signal impending volatility.

3. Risk Mitigation Techniques
   Avoid placing stop-loss orders at common levels, as whales often trigger these to reverse trends. Instead, use trailing stops or dynamic support/resistance zones. Diversification is key: while Ethena's $0.40–$0.50 range offers high-reward potential, pairing it with Ethereum's whale-driven stability can balance risk, as an EDGAR Index analysis explains.

Conclusion

Unusual whale activity in October 2025 presents both opportunities and risks for retail investors. Ethena's accumulation by founders and large holders, coupled with Ethereum's coordinated whale strategies, offers clear entry points for those who can interpret on-chain signals. However, Bitcoin's mixed whale behavior and Ethena's short-term selling risks demand disciplined risk management. By combining technical analysis, on-chain tools, and strategic diversification, retail investors can navigate this volatile landscape with confidence.