Ethereum Whales are Eagerly Accumulating ETH: Should You Consider Purchasing the Ether Dip?
Ethereum whales have returned to accumulation mode following a chaotic weekend, igniting discussions on whether this downturn represents a chance to enter or merely another temporary rebound for Ethereum crypto.
Significant holders, including one of the largest corporate treasure managers in the sector, have heavily invested in Ethereum over the last 24 hours. This action comes after a dump driven by leverage that momentarily dragged Ether down to nearly $3,500.
BitMine Immersion Technologies reported that its latest acquisitions have pushed its total holdings to over 3.03 million ETH, which is around 2.5% of the overall token supply.
As per Coingecko data, Ethereum is being traded around $4,300, which shows a +3.7% rise over the past 24 hours, but it still remains beneath recent peaks as the wider trading market finds its footing after the weekend downturn.
What Impact is BitMine’s Significant $827 Million Ethereum Crypto Acquisition Having on the Market?
The price drop from Friday to Sunday, partially driven by headlines regarding US-China trade relations, caused a series of forced liquidations across various exchanges.
BitMine announced that it acquired approximately 202,000 Ethereum over the weekend, valued at close to $827 million at an average price of $4,154.
BitMine provided its latest holdings update for Oct 13, 2025:
$12.9 billion in total crypto + “moonshots”:
– 3,032,188 ETH at $4,154 per Ethereum (Bloomberg)
– 192 Bitcoin (Bitcoin)
– $135 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and
– unencumbered…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) October 13, 2025
This acquisition raised the firm’s total holdings to 3.03 million Ethereum, which they described as the midpoint towards their goal of obtaining 5% of the overall circulating supply.
“We obtained 202,037 ETH, elevating our holdings to over 3 million,” stated Tom Lee, the company’s chairman, referring to the market drop as a distinct buying chance.
A prominent digital wallet purchased 7,817 Ethereum (around $32.5 million) close to $4,159, shortly after exiting during the panic-selling.
前天 $3,764 “恐慌” 割肉 Ethereum 的高吸低抛鲸鱼，涨起来又以 $4,159 的价格上车了
他在 3 小时前用 3251.1 万 DAI 重新买回 7,817 枚 ETH。前天大跌后以 $3,764 的价格恐慌清仓，今天涨起来后又以 $4,159 的价格重新买回。等于是他这一波低抛高吸，没了 820 枚 ETH ($340 万)。… https://t.co/scsBfdE5uc pic.twitter.com/OctwKxd8Qz
— 余烬 (@EmberCN) October 13, 2025
Another OTC desk acquired 14,165 ETH, roughly $55 million through market-making activities, as per the latest trade alerts.
As stated by SoSoValue data, US spot Ether ETFs experienced net outflows on Monday, led by BlackRock’s ETHA (-$80M) and Fidelity’s FETH (-$30M).
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Data indicates that large investors and institutions may be acquiring coins that ETFs are redistributing back into the trading market.
Meanwhile, the derivatives markets are showing stability. Funding rates across major platforms have decreased to their lowest figures since 2022, reflecting a substantial cutback in leverage after the significant liquidations.
Analytics company Glassnode reported that these rates have “fallen to their lowest since the 2022 bear market.”
Funding rates across the crypto market have sunk to their lowest levels since the depths of the 2022 bear market.
This represents one of the most significant leverage resets in the history of crypto, highlighting the extent to which speculative excess has been eliminated from the system. pic.twitter.com/XBufZmA9vs
— glassnode (@glassnode) October 12, 2025
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Ethereum Price Forecast: What Insights Does the Wyckoff Accumulation Pattern Provide for ETH?
The crypto market structure of Ethereum indicates a definitive uptrend configuration shaping up as the year comes to a close.
A chart posted by crypto crypto holder TedPillows compares Ethereum’s price to the global M2 money circulating supply, which has closely tracked each other since mid-2024.
This suggests that ETH is in a mid-cycle accumulation phase, known as Wyckoff Accumulation, exhibiting strong backing at a price point of roughly $2,836.
Both ETH and global liquidity dipped at the start of 2025, reaching their lowest levels by late spring.
Shortly thereafter, both experienced recoveries. The price of Ethereum surpassed the $4,000 threshold as worldwide M2 exceeded $114.7 trillion.
This trend highlights that macro market fluidity is continuously influencing crypto prices, with ETH showcasing a stronger response to it compared to Bitcoin.
From a technical standpoint, ETH seems positioned for a continuation of its rally. It’s consolidating above $4,000 after a rapid ascent, forming what appears to be a reaccumulation area.
The presence of higher lows and a narrowing range suggests a potential price breakout towards $6,500–$7,000 if trading market momentum continues.
TedPillows is uptrend that ETH could match the M2 token supply in Q4 and attain a fair crypto market value range between $8,000-$10,000 by early 2026, provided institutional interest and locking tokens approvals remain strong.
Should the Wyckoff formation come to fruition and available volume increase as projected, ETH could be entering one of its most fruitful periods since 2021.
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