by Vincent Muthee
Ethereum investors are taking advantage of the recent market slip to accumulate tokens. This accumulation wave strikes following a price slump below $4,000 for the first time since August 8, 2025.
However, while whales are accumulating in preparation for a price recovery in the near future, Ethereum is surrounded by mixed sentiment. Some market watchers warn of an incoming bear market while others see the recent dip as just another shakeout before a parabolic rally.
Whales Accumulate $2.79B in ETH Over the Last 2 Days
Crypto on-chain analytics platform Lookonchain has flagged several Ethereum whale accumulations. In a post on X, the platform shared that large investors have been purchasing Ether since the price slipped below $4,000 on September 25.
These whales have purchased over 700,000 Ethereum from different exchanges and over the counter (OTC). As observed by Lookonchain, 15 wallets received 406,117 ETH worth approximately $1.6 billion. These coins were received from Kraken, Galaxy Digital, BitGo and FalconX. In another wave, 11 wallets received 295,861 Ether worth $1.19 billion from the same exchanges and OTC.
Whales keep accumulating $ETH!
15 wallets have received 406,117 $ETH($1.6B) from #Kraken, #GalaxyDigital, #BitGo, and #FalconX in the past 2 days.https://t.co/YXZyneFrFR pic.twitter.com/T2YDClezW9
— Lookonchain (@lookonchain) September 26, 2025
Usually, whale accumulations signify that bulls are defending their positions while some anticipate a price recovery in the near future. This explains the slight steadiness in the market despite the prevalence of strong selling pressure.
Ethereum Price Action
According to data by Coingecko, Ethereum (ETH) is currently trading at $3,927 having dipped by 1.7% over the last 24 hours. Over the same period, the price has ranged between a low of $3,833 and a high of $4,051.
Additionally, the market capitalization has also dropped in tandem with the price. Ethereum’s market capitalization currently sits at $474.69B. Nonetheless, ETH still holds its position as the second crypto by market cap.
On the other hand, trading volume has remained high. Ethereum has recorded $57.43B in trading volume over the last 24 hours, having surged by over 40% in the same period. Normally, a surge in trading volume as price slips up shows increased selling pressure in the market.
Market Watchers Divided Over Next Direction
Amid the price slip up and whale accumulations, analysts are divided over what happens for the price of Ethereum. Some analysts claim the price could slip up further. For, instance, Chief Economist Peter Schiff, believes that Ethereum has entered the bear market after plunging below $4,000. Schiff also notes that Bitcoin could be next.
“Ethereum just tanked below $4,000. Despite all the Ethereum Treasury company buying, the #2 crypto is now in an official bear market, down 20% from its August record high. Bitcoin is next,” Schiff wrote on X.
However, other analysts believe that the recent market drop is just a mere ‘bear trap.’ Citing a previous price drop of -14.33% in mid June, Ted Pillows, highlighted that Ethereum has entered the buy zone. The analyst also predicts that the coin could rally similar to the rally that followed back then if history repeats itself.
With whales accumulating strongly, this positive prediction by Ted Pillows sheds some hope for a potential price recovery. However, investors must remain cautious until the next ETH price trend is confirmed as further price drop could trigger more selling pressure, suppressing the recovery attempts.
#blockchain #crypto, #decentralized, #distributed, #ledger
