Ethereum: What $164mln whale accumulation means for ETH’s recovery

ambcryptoPublished on 2026-07-17Last updated on 2026-07-17

Abstract

Ethereum's price faced rejection at $1,944, falling to around $1,823 at press time. Despite the decline, significant whale activity was observed. Data indicated large whale orders for seven consecutive days, and one specific entity aggressively accumulated 89,396 ETH (worth approximately $164.88 million) over three days, including a $37.72 million withdrawal from an exchange. While this suggests some whales are buying the dip, broader market indicators remained weak. Exchange netflows were negative, meaning more ETH was leaving exchanges, but the Balance of Power metric shifted to show seller control. The price action is currently vulnerable below $1,944. Ethereum's next moves depend on whether sustained buying can defend the $1,800 level for a potential recovery toward $1,928, or if continued weakness pushes it toward $1,774.

Ethereum’s [ETH] attempted rebound faced rejection at $1,944 three days ago. The pullback pushed ETH to $1,819 before it recovered slightly.

At press time, Ethereum traded near $1,823 after falling 3.6% over 24 hours. The decline attracted substantial whale activity, although sellers retained control of the market.

Are whales buying the ETH dip?

CryptoQuant’s Spot Average Order Size recorded large whale orders for seven consecutive days.

However, the metric captured both buying and selling activity. Therefore, it confirmed whale participation without establishing a clear direction.

Lookonchain also reported that two newly created wallets withdrew 20,000 ETH from Coinbase Prime. The withdrawal was worth $37.72 million and occurred in two batches of 10,000 ETH.

Source: CryptoQuant

According to the tracker, the associated whale had accumulated aggressively during the previous three days.

On the 16th of July, the whale purchased 30,000 ETH, worth $57.6 million. Its three-day accumulation reached 89,396 ETH, valued at approximately $164.88 million.

Buying during a decline suggested that the whale expected stronger prices. However, one entity’s activity could not confirm broader confidence.

Source: CoinGlass

CoinGlass data showed that Ethereum’s Spot Netflow remained negative for two consecutive days.

At press time, Spot Netflow stood at -$23.6 million, compared with -$49 million the previous day. Therefore, net outflows continued but slowed considerably.

Negative Spot Netflow indicated that more ETH left exchanges than entered them. This trend aligned with the reported whale withdrawals. Even so, Exchange Outflows alone could not establish that every withdrawal represented accumulation.

Can whales defend $1.8K?

Whales absorbed some selling pressure, but Ethereum’s broader structure remained weak.

The Balance of Power fell from 0.93 to -0.61, shifting into negative territory. That reading indicated that sellers controlled short-term price action despite the whale demand.

Source: TradingView

Continued weakness could push Ethereum [ETH] below $1,800 and toward $1,774. However, sustained buying could help Ethereum defend $1,800 and reclaim $1,928. A recovery above $1,928 could reopen the path toward $2,000.

Final Summary

  • A whale accumulated 89,396 ETH, worth $164.88 million, over three days.
  • Ethereum remained vulnerable below $1,944 despite whale demand and continued Exchange Outflows.

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Related Questions

QAccording to the article, what significant whale activity was reported for Ethereum?

AA whale accumulated 89,396 ETH (worth approximately $164.88 million) over three days, including a withdrawal of 20,000 ETH from Coinbase Prime.

QWhat was Ethereum's price and 24-hour change at the time the article was written?

AAt press time, Ethereum was trading near $1,823 after falling 3.6% over the preceding 24 hours.

QWhat does the 'Spot Netflow' metric indicate about the Ethereum market, according to the article?

AA negative Spot Netflow indicates that more ETH is leaving exchanges than entering them, a trend that aligned with reported whale withdrawals but does not necessarily confirm that all withdrawals were for accumulation.

QWhat did the Balance of Power reading signify for Ethereum's market structure?

AThe Balance of Power falling from 0.93 to -0.61 indicated a shift, placing it in negative territory. This means sellers controlled short-term price action despite the reported whale demand.

QWhat are the potential price levels mentioned for Ethereum's recovery and further decline?

ASustained buying could help Ethereum defend $1,800 and reclaim $1,928, potentially reopening a path toward $2,000. Continued weakness could push it below $1,800 toward $1,774.

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