Investor Bets $60M on ETH Amid Market Uncertainty
Key Takeaways
- A major Ethereum investor (whale) recently purchased ETH worth 60 million USD.
- The purchase occurred while Bitcoin (BTC) was in a consolidation phase and briefly dropped by 3.79%.
- ETH was unable to maintain its local high and fell back to around 2,564 USD.
- A capital rotation from BTC to ETH is possible, but remains uncertain for now.
- Whales are betting on a recovery, but the risk of misjudgement remains high.
Ethereum in Bitcoin’s Shadow
Ethereum (ETH) is currently trailing significantly behind Bitcoin (BTC). While BTC is reaching new all-time highs, ETH hasn’t even managed to retest its last local high of 2,737 USD. The psychologically important resistance at 3,000 USD remains out of reach.
On May 13, ETH briefly hit an intermediate high, but this surge was more the result of tactical capital rotation than a sign of fundamental strength. Such movements often occur when BTC stagnates and investors shift to altcoins like ETH.
Whale Investment: Bold Move or Risky Bet?
On May 23, BTC dropped by 3.79%, prompting a major investor to allocate approximately 60 million USD into ETH — at a price of 2,666 USD. This long position suggests an expectation that ETH will rise in the short term.
However, the expected reaction has yet to materialize: ETH continued to fall to 2,564 USD. If the price doesn’t rise soon, the investor could face a forced liquidation of their position — a scenario that is already beginning to take shape.
Historical Patterns: Capital Rotation During Bitcoin Consolidation
In the past, BTC consolidation phases often led to capital shifting into altcoins. One example: on May 8, ETH surged by 21.76% in a single day after BTC failed to break through the resistance zone at 103,000 USD.
Within a few days, ETH climbed nearly 50% and surpassed the 2,700 USD mark. The current market behaviour resembles this pattern — but so far, the anticipated price surge has not occurred.
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ETH/BTC Ratio Remains Weak
The ETH to BTC ratio (ETH/BTC) currently shows no signs of a trend reversal. BTC has recovered to 109,000 USD, drawing capital back toward Bitcoin. The so-called “FOMO” (Fear of Missing Out) is driving investors back into BTC, while ETH is losing appeal.
The number of wallets holding more than 1,000 ETH has also slightly declined — from 4,918 to 4,900. At the same time, ETH’s price has dropped by 5.20% since its last local high of 2,693 USD.
Derivatives Market Retreats, Spot Market Shows Subtle Signals
The derivatives market is showing a clear decline in risk appetite. Investors are reducing their leveraged positions, indicating a cautious stance amid macroeconomic uncertainties.
In contrast, the spot markets are hinting at possible accumulation: over the past few days, 7,515 ETH have been withdrawn from exchanges. Such movements may indicate long-term buying interest — though they offer no guarantee of short-term price gains.
Our Assessment
The current situation surrounding Ethereum is marked by uncertainty. While there are signs of a potential capital rotation from Bitcoin to ETH, the market response has been muted so far. The whale’s 60 million USD investment could prove to be a smart move — or an expensive miscalculation.
As an investor, keep a close eye on the ETH/BTC ratio and monitor movements in the spot market. A sustainable ETH recovery is only realistic if overall market sentiment improves significantly. Until then, any long position remains a high-risk gamble.
Sources
- TradingView
- CryptoQuant
| Symbol | ETH |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | 2540.24 |
| 24h % | -0.14 % |
| 7d % | 2.30 % |
| 30d % | 43.94 % |
| 60d % | 22.89 % |
| 1y % | -32.00 % |
| Market Cap | $306,700,479,055.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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