After selling over 1.3 million tokens in 11 days, big Ethereum wallets – known as sharks and whales – returned and began re-accumulating at an impressive rate.
At the same time, Tom Lee, who has been behind Bitmine’s significant ETH purchases over the past few months, remains very bullish on the asset, indicating that leverage has been removed and it is clear for takeoff.
The whales are back
Santiment reported that these wallets, holding between 100 and 10,000 ETH, sold 1.36 million coins between October 5 and 16. At the time, the price of ETH was quite volatile, rising above $4,750 only to fall below $3,500 during the October 10 market crash.
However, their behavior has changed over the past week and they are “finally showing some signs of confidence.” The analytics platform added that it has since added back “nearly 1/6th” of the sold reserve and classified it as “a positive sign for the #2 crypto market cap.”
Tom Lee also weighed in on the October 10 crash, which was primarily due to excessive leverage used in futures trading. Recall that more than $19 billion was wiped out, with more than 1.6 million merchants destroyed in less than 24 hours. Lee, who runs ETH’s largest treasury company and holds nearly $13 billion in the asset, recently noted that open interest in BTC and ETH has fallen to all-time lows, which could open the door to a “crypto rally until the end of the year”.
Meaning of ETH price?
Large investors, such as sharks, whales and corporations, purchasing substantial portions of a certain asset are generally considered a bullish move, as they reduce immediate selling pressure. The crypto community is also full of important price predictions for ETH, with the most talked about targets at $5,000 and $10,000.
While the former seems entirely possible in the near term, given that ether came close to it a few months ago, the latter is a bit far-fetched at the moment. Ali Martinez also pointed this out in a recent article and said that ETH will eventually get there, but “but not as soon as you think.”
Ethereum $ETH will reach $10,000… But not as soon as you think! pic.twitter.com/WVkjF8bKdl
– Ali (@ali_charts) October 25, 2025
Ethereum Sharks and Whales Are Back: What Does This Mean for ETH Price? appeared first on CryptoPotato.
