Strategic Ethereum Whale Makes Bold $39M Bet Amidst Price Plunge
In a surprising move that defies recent market downturns, a significant crypto whale has made a substantial investment in Ethereum (ETH), stacking millions even as its ETH price saw a sharp decline. This action signals strong conviction and a potential ‘buy the dip’ strategy during volatile times.
Why This Crypto Whale is Buying the Dip
Despite Ethereum experiencing a steeper fall than Bitcoin following geopolitical tensions, a notable wallet address (0x7355…213) purchased approximately 9,400 ETH, valued at around $39 million, on June 22. This acquisition significantly boosted the wallet’s total Ethereum holdings to $330 million.
The timing of this large purchase is particularly interesting. Markets reacted negatively to reports of US airstrikes, causing a broad sell-off. In the 24 hours preceding the whale’s purchase, Ethereum‘s price dropped by roughly 12.80%, while Bitcoin saw a comparatively smaller loss of about 4.70%. This divergence highlights the whale’s confidence in Ethereum‘s long-term value, choosing to accumulate during a period of heightened fear and a falling ETH price.
Broader Crypto Whale Activity Confirms Sentiment
The single crypto whale‘s action isn’t isolated. Data from Glassnode indicates that Ethereum wallets holding 10,000 ETH or more have increased their net positions. On June 21, these mega-whales collectively acquired over 116,893 ETH, worth approximately $265.30 million. This suggests a broader sentiment among large holders to buy the dip rather than exit positions during the recent market weakness.
Market Analysis Points to Potential ETH Price Rebound
Beyond whale activity, technical market analysis suggests a potential upside for the ETH price. According to market analyst Sensei, Ethereum is holding above a key ascending trendline. A bounce from this level in the past (April-May 2025) led to a significant rally.
If this pattern repeats, Ethereum could see a short-term rebound of about 25%, potentially targeting the $2,735 resistance level from its current price range. This technical outlook aligns with the bullish sentiment displayed by large crypto whale investors looking to buy the dip.
Summary
Despite a sharp decline in ETH price following market jitters, a prominent crypto whale strategically invested $39 million in Ethereum. This action is mirrored by broader crypto whale accumulation trends, indicating a collective effort to buy the dip. Coupled with positive technical market analysis suggesting a potential 25% rebound, these factors paint a picture of underlying confidence in Ethereum‘s future despite current volatility.
