Ether Whales and Sharks Accumulate 1.49M ETH Amid Market Divergence

According to crypto analytics platform Santiment, Ethereum's large holders, categorized as whales and sharks for wallets holding between 1,000 and 100,000 ETH, have added a net total of 1.49 million ETH over the past 30 days, representing a 3.72% increase in their combined holdings. As of the latest data, this group now controls 26.98% of the total ether supply, showcasing strong accumulation even as ETH faced minor price pressures. On June 14, ETH traded at $2,508, down 0.88% in the 24-hour period, yet managed to hold above the critical $2,500 support level. This accumulation spree contrasts sharply with retail behavior, where smaller wallets have been consistently taking profits, highlighting a divergence in market sentiment that underscores long-term conviction among key stakeholders despite recent price declines from highs near $2,870 earlier in the month.

Institutional Flows and ETF Dynamics

Concurrently, institutional interest showed signs of cooling, with U.S.-listed spot Ethereum ETFs recording $2.2 million in net outflows on Friday, as confirmed by data from Farside Investors. This outflow ended a 19-day inflow streak that began in late May, marking the first reversal in institutional demand via these ETFs. The shift suggests short-term caution among institutional investors, potentially driven by macroeconomic uncertainties or regulatory headwinds. However, ether's broader market structure remains resilient, with the persistent whale accumulation likely providing a solid price floor. For instance, ETHUSDT was trading at $2446.08 as of the latest data, reflecting a 1.662% decline over 24 hours, with a high of $2497.08 and a low of $2382.17, while ETHUSD stood at $2441.67, down 1.663%. This stability near the $2,500 zone indicates that large holder activity could buffer against deeper corrections if global conditions stabilize.

Technical Analysis and Trading Opportunities

From a technical standpoint, ether exhibited notable price action within a narrow range over the past 24 hours, trading between $2,499.39 and $2,580.53. The token peaked near $2,580 in the early hours before entering a steady decline, briefly dipping below the $2,500 support level. However, a robust rebound occurred, closing near $2,518.76, with a significant volume surge around 17:30–18:00 GMT that coincided with the recovery. Key support is forming around $2,500, a psychological and technical barrier that has historically acted as a pivot point. Current data reveals ETHBTC at 0.02276000, down 0.871%, and SOLETH rising 2.595% to 0.06800000, indicating varied cross-pair performance. Traders should watch for sustained holds above $2,500 as potential entry points, with volume spikes signaling accumulation opportunities. Resistance near $2,580 could cap upside moves, while a break below support might target $2,382.

For broader trading implications, the whale accumulation trend suggests a bullish undercurrent, with large holders potentially front-running regulatory clarity or ETF developments. Monitoring on-chain metrics like supply distribution and volume trends can provide early signals for reversals. In altcoin pairs, ADAETH traded at 0.00030470, up 1.838%, offering diversification plays. Overall, despite retail pullback and institutional outflows, ETH's resilience above key support, coupled with high-conviction accumulation, presents strategic long opportunities for traders. Macro factors such as interest rate decisions or crypto regulations will be crucial; a stabilization could amplify upside potential toward $2,600, while persistent outflows might test the $2,400 zone.