- Ethereum ETH whales still accumulating as the price of ETH recovers.
- Following Bitcoin’s pump, the price of ETH shot from $1,600 to $1,800 in a few hours.
- The crypto market notices heavy ETH whale accumulations.
Bitcoin’s recent recovery to $94,000 has pumped the price of Ethereum as well. In detail, the price of Bitcoin (BTC) pumped from $88,000 to $94,000 in a matter of seconds leading analysts to expect a major price pump for the entire crypto market in response. Indeed, soon after Bitcoin’s pump, the price of ETH reclaimed the $1,800 price target and resulted in ETH whales still accumulating.
Price of Ethereum Reclaims $1,800
According to CoinMarketCap analytics, the price of Ethereum (ETH) went up from $1,600 to $1,800 in a matter of hours. This pump was likely due to the fact that the pioneer cryptocurrency Bitcoin (BTC) pumped from $88,000 to $94,000 in a matter of seconds. This liquidity is now slowly trickling into the altcoins sector starting with the pioneer altcoin Ethereum (ETH).
As we can see from the post above, the price of Ethereum has reclaimed the $1,800 price mark showing strength and resilience mirroring Bitcoin. However, an Ethereum pump is a lot more exciting for those looking forward to the altseason peak phase. This bull cycle, the altseason phase has been delayed due to many possible scenarios. Despite this, analysts are certain altseason will start soon and will bring infinitely high gains compared to the precious cycles.
ETH Whales Still Accumulating
In the eyes of many seasoned analysts, the trigger that would launch altseason peak would be Ethereum (ETH) setting a new ATH. Thus, Ethereum is expected to lead the altseason peak phase which will ultimately bring in a string of new ATHs for other capable altcoins as well. Therefore, this $1,800 ETH price recovery is a highly bullish sign for the arrival of altseason, and ETH whales are accumulating to reap the rewards that’s expected to come.
The previous ATH for ETH was set in the $4,000 price range. If this altseason is set to flourish, ETH must break past this previous ATH price in order to realize massive gains. Analysts expect ETH to set ATHs soon with cycle top predictions lying between $8,000 and $15,000. Meanwhile, ETH whale accumulation only seems to be growing by the day with more ETH flowing towards whales.
As we can see from the post above, this whale withdrew 1,900 ETH worth $3.1 million from the crypto exchange Gateio again an hour ago. Additionally, the post notes that since Feb 15, this wallet has withdrawn 48,477 ETH worth $100.35 million from Gateio and is currently sitting on a $21 million loss. Meanwhile, another whale withdrew 2,600 ETH $4.26 million from Binance after being inactive for a year.
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