The major Ethereum whales have made headlines after investing $73 million in ETH, contrary to the ongoing market slump.
According to blockchain data provided by LookonChain, the Wallet Address 0XD8D0, previously profiting over $30 million from Ethereum, has entered the market again, earning 30,000 ETH during its recent price dip.
Since June 11th, whales have spent around USD 295 million accumulating a total of 115,465 ETH at a price average of $2,555. However, as Ethereum is currently trading at $2,444.91 (down 4.14% over the past 24 hours), the whales are temporarily down around $15 million.
See Ethereum ETF Outflow
While the whales are buying dip, the Ethereum ETF shows signs of tension. On June 20, Ethereum Exchange-Traded Funds recorded $11 million in net spills, marking the second such event this month, according to data from Farside. Previously, on June 13th, Ethereum ETFS experienced a $3 million outflow.
This contrasts with recent bullish behaviour from institutional investors, particularly BlackRock. On June 12, the asset management giant added more than $160 million in ETH to its holdings, marking the largest daily inflow of ETFs since February 5, 2025, when it purchased $274 million in Ethereum.
Nevertheless, BlackRock's Ethereum ETF (ETHA) saw its first spill since May 7th (over $19 million) after selling 8,140 ETH. The fund's total ETH holdings remain substantial for the 1677 million ETH, indicating continued long-term trust despite short-term relocation.
Have you seen the Ethereum Golden Cross?
Technically, Ethereum's price action shows promising signs. ETH has recently bounced back from the $2,450-$2,475 range. This is an important confluence zone where the 50-day and 200-day moving averages intersect.
This crossover caused what traders perceived as “golden crosses.” This is usually a bullish signal that indicates a long-term momentum change. Following this setup, Ethereum surged beyond $2,540, renewing buyer interest and increasing trust among market participants.
In summary, ETF spills and price volatility suggest caution, but technical indicators like whale activity and Golden Cross have been tailored to support the potential bullish phase of Ethereum.
