Whales Add $1.19B to Ethereum as ETFs Retreat, Synchronized Patterns Signal Institutional Takeover

Ethereum’s recent price action has drawn comparisons to Coinbase Global Inc. (COIN), with both assets exhibiting synchronized bear traps, accumulation phases, and breakout patterns. According to market analysts, Ethereum’s 60% rebound from its accumulation zone—compared to Coinbase’s 15% rise—signals stronger institutional interest and a potential surge in upside momentum. This correlation, observed in price structures and market cycles, underscores the deep linkage between crypto assets and crypto-linked equities, offering cross-market positioning insights for traders and investorsEthereum Could Mirror Coinbase’s Blueprint as Bear Traps and Accumulation Suggest Potential Upside Momentum^[1].

Technical analysis reveals that both Ethereum and Coinbase experienced sharp corrections followed by failed breakdowns, classic bear trap formations that invalidated short-term sell-offs. Ethereum’s price fell 23% from $4,950 to $4,150, while Coinbase dropped 35% from $450 to $290. However, Ethereum’s shallower retracement and steeper recovery suggest greater resilience. Accumulation ranges formed over several weeks, with Ethereum consolidating between $2,200 and $2,600 and Coinbase between $250–$270. Breakouts above declining trendlines, confirmed by increased buy-side volume, indicate validated trend reversalsEthereum September: Biggest Bear Trap or Start? - LinkedIn^[2].

Institutional participation has intensified, with on-chain data showing reduced selling pressure and sustained accumulation. Whale activity has surged, as large holders (wallets with 10,000–100,000 ETH) added nearly 296,000 ETH ($1.19 billion) in a single day. Meanwhile, Ethereum ETFs recorded $300 million in outflows since mid-September, contrasting with the growing private accumulation. Exchange reserves have hit yearly lows, signaling a shift toward private wallets and long-term bullish sentimentCrypto Carnage: $140 Billion Wiped Out as Ethereum Dips Below …^[3].

Market analyst Merlijn The Trader highlighted the parallel between Ethereum and Coinbase, stating, “ETH’s blueprint mirrors COIN’s. The bear trap, accumulation, and breakout are identical. COIN moved first; ETH detonates next.” This observation has gained traction as both assets show aligned recovery signals. Intraday data shows Ethereum trading near $4,153.90, up $162.65, while Coinbase nears $312.59, up 1.92%. The correlation reinforces cross-asset strategies, as Ethereum’s stronger rebound may drive correlated equities and DeFi tokensEthereum Price Set to Exit Bear Trap: Bullish Momentum Builds for ETH in 2025 | Flash News Detail | Blockchain.News^[4].

Looking ahead, Ethereum’s trajectory depends on sustaining momentum above key resistance levels. A confirmed breakout above $4,800 could target $5,200–$5,500, while a failure to hold $4,500 support might trigger a retest of $4,000. Institutional inflows, regulatory clarity, and the upcoming Fusaka upgrade—aimed at doubling Ethereum’s transaction capacity—could act as catalysts. Analysts caution that September remains historically volatile for crypto, but the current divergence between ETF outflows and whale accumulation suggests a maturing market where long-term value is being prioritized over short-term sentimentEthereum’s Resilient Surge: Market Analysis and Forecast for …^[5].