Despite the drop in Ether (ETH) price, whales proceed to buy a whole lot of hundreds of ETH, raising hopes of a short-term recovery.
Key Takeaways:
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An Ethereum whale increases his ETH holdings 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.
Ethereum 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 amassed greater than 385,000 ETH value $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
Arkham Intelligence added that the whale also borrowed $270 million value 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 (value 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 an excellent 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 every day chart as shown below.
ETH is retesting the 100-day SMA (Simple Moving Average) at $3,450. Bulls must push the value above this level to extend the possibilities 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 imagine that ETH has the chance to rise to $4,000 before December, citing a breakout of the falling wedge, falling 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.
