Despite the drop in Ether (ETH) price, whales proceed to buy tons of of 1000’s of ETH, raising hopes of a short-term recovery.
Key Takeaways:
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An Ether whale increases its ETH supply to $1.3 billion, indicating accumulation.
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Whales, BitMine and ETFs are adding billions of dollars to ETH, adding to rising demand.
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A V-shaped recovery pattern is emerging, targeting an ETH price of $4,000.
Ether whales are buying the dip
In response to last week’s market correction, Ether whales took advantage of the ETH price drop to $3,000.
According to data from Arkham Intelligence, an unknown whale has gathered greater than 385,000 ETH price $1.38 billion within the last 10 days.
“This whale currently owns $563.9 million in ETH directly through spot holdings, in addition to $818.7 million in a loan position on AAVE,” the blockchain analytics platform said in a Wednesday post on X, adding:
“He added one other $105.36 million in ETH today alone.” Ethereum whale holdings. Source: Arkham Intelligence
According to Arkham Intelligence, the whale also borrowed $270 million price of stablecoins from decentralized lending platform Aave to potentially expand its ETH position.
Lookonchain noted that along with this whale, one other whale can be borrowing to purchase ETH: “$83,816 ETH ($288.6 million) is deposited on Aave and has borrowed $122.89 million in stablecoins.”
In addition to the #66kETHBorrow whale, one other whale can be borrowing 0x9992 to purchase more $ETH!
2 hours ago, 0x9992 borrowed $10 million USDC from Aave to purchase $2,909 $ETH.
He currently has $83,816 ETH ($288.6 million) deposited on Aave and borrowed $122.89 million in stablecoins.… pic.twitter.com/ZxFsQaexqo
– Lookonchain (@lookonchain) November 12, 2025
These moves coincide with BitMine's ongoing push into Ethereum. Over the past week, the corporate added 110,288 more ETH, bringing its total holdings to three.5 million ETH (price about $12.5 billion), cementing its position as the biggest corporate holder of ETH.
This reinforces the narrative that whales and institutions are viewing ETH’s recent price drop as a great entry opportunity.
Can ETH price return to $4,000?
From a technical perspective, Ether price motion is forming a possible V-shaped recovery chart pattern on the day by day chart as shown below.
ETH is retesting the 100-day SMA (Simple Moving Average) at $3,450. Bulls have to push the value above this level to extend the probabilities of the value rising to the neckline at $4,172 and completing the V-shaped pattern.
Such a move would represent a 21% increase from the present price.
Several analysts say ETH has a probability to rise to $4,000 before December, citing a falling wedge breakout, declining exchange supply and Ethereum's $200 billion tokenized economy.
This article doesn’t contain any investment advice or recommendations. Every investment and trading activity involves risks and readers should conduct their very own research when making their decision.
