COINOTAG revealed on June 14 that a significant whale or institutional investor acquired over 70,000 ETH at an average price near $2,647, utilizing approximately 186 million USDC within a three-day span, while retaining a substantial balance of 150 million USDC. Concurrently, an address potentially affiliated with ConsenSys executed an OTC purchase of 5,463 ETH, signaling diversified accumulation activity. Notably, wallets holding between 1,000 and 100,000 ETH have collectively increased their holdings by 1.49 million ETH over the past month, accounting for nearly 27% of the circulating supply.
Despite a recent $2.1 million net outflow from spot ETFs, ending a 13-day inflow streak, institutional engagement and portfolio rebalancing remain pivotal market dynamics. Analysts at Bitunix emphasize that the ongoing whale accumulation is reinforcing a support zone around $2,500. Following consolidation, Ethereum is poised to test resistance levels in the $2,740 to $2,800 range. A resurgence of ETF inflows could further catalyze a breakout above $2,800. Investors should consider strategic entries post-correction while monitoring whale activity and ETF fund movements closely.