Ethereum’s $1.33B whale buys vs. $183M ETF outflows – Is $3700 next target?
ETH’s biggest buyer returns again, but institutional flows disagree — traders brace for a key turning point.
Key Takeaways
Why is whale activity rising again for Ethereum?
A major whale boosted leverage through Aave to accumulate more ETH, signaling strong conviction despite weak spot momentum.
What does current market data suggest for ETH?
Heavy ETF outflows reduced institutional demand, making ETH’s next move dependent on inflows returning to support price strength.
Ethereum [ETH] whales stepped up accumulation as large players executed fresh buys at current price levels.
On-chain data showed that the whale labeled “66kETHBorrow” borrowed another 120 million USDT from Aave [AAVE] before depositing the funds to Binance, likely preparing to add to existing positions.
Lookonchain’s tracking confirmed the whale had already acquired 385,718 ETH worth $1.33 billion before the latest borrowing activity. Analysts noted that this renewed leverage signaled continued interest from deep-pocketed traders despite weak spot momentum.
Will ETH price action match the surging whale activity?
The renewed borrow-and-deposit cycle highlighted growing whale aggression even as Ethereum’s price attempted a mild rebound.
Even so, the broader structure remained bearish on the daily chart after ETH broke its 10-day consolidation.
ETH needed a break above $4300 to flip its trend. Whale orders and leveraged inflows alone did not inject enough bullish pressure to sustain a strong rally.
However, prices could push toward the $3700 imbalance zone, offering short-term momentum until Stochastic RSI entered overbought territory. That setup left room for a corrective move if buyers failed to defend recent gains.
CryptoQuant’s Spot Average Order Size chart showed elevated large-order clusters, indicating continued whale participation while retail activity stayed muted.
On top of that, the shift aligned with the recent borrowing spree by the 66kETHBorrow wallet.
Ethereum surging ETFs outflows flash cautionary signals
SoSoValue data confirmed $183.77 million in daily outflows on the 12th of November, pushing Total Net Assets to $22.14 billion.
ETH traded near $3416 as institutional flows continued to weaken.
That withdrawal wave showed institutions reducing exposure even as whales accumulated on-chain. The divergence left traders uncertain about the short-term direction.
What’s next for ETH?
ETH could continue grinding higher toward $3.7K as market imbalance fills. Even so, sustained upside likely required a reversal in institutional flows.
Without fresh inflows, Ethereum risked another dip once short-term momentum eased.
