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Updated Aug 3, 2025, 1:48 p.m. Published Aug 3, 2025, 1:46 p.m.
- A whale purchased $300 million worth of ether, signaling long-term confidence despite a recent price drop.
- Ether’s price fell nearly 10% this week, breaking a five-week winning streak amid broader market jitters.
- Bitcoin has shown relative resilience, declining only 4.5% this week, confirming a shift in market sentiment against ether.
The ether (ETH) market is at a critical juncture as a whale snapped up ether (ETH) worth millions, positioning itself bullishly against the cryptocurrency’s first weekly loss in over a month.
Programmable blockchain Ethereum’s native token, ether, has dropped nearly 10% this week, hitting lows under $3,400 at one point, CoinDesk data show. The decline follows a robust five-week winning streak, signaling profit-taking or de-leveraging alongside losses on Wall Street.
STORY CONTINUES BELOW
The bearishness, however, contrasts with a powerful signal of long-term conviction from a whale. According to on-chain data tracked by Arkham Intelligence, a single entity snapped up a massive $300 million worth of ether as prices fell, executing a major “buy the dip” operation.
It’s the case of bullish divergence. While the weekly price action suggests a loss of immediate upward momentum and potential profit-taking, the significant whale purchase indicates a belief that the recent downturn is merely a temporary setback.
The message is clear: As the price drop flushes out weaker hands, the process if being met with determined buying from a high-conviction entity.
A fresh bout of macro jitters, sparked by the buoyant U.S. dollar and Friday’s disappointing U.S. jobs data, has put the crypto market on the back foot.
Bitcoin, the largest digital asset by market value, has held relatively resilient, down just 4.5% for the week. BTC’s outperformance relative ETH confirms the change in market sentiment sentiment against ETH that was first signaled by the options market.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Omkar Godbole is a Co-Managing Editor and analyst on CoinDesk’s Markets team. He has been covering crypto options and futures, as well as macro and cross-asset activity, since 2019, leveraging his prior experience in directional and non-directional derivative strategies at brokerage firms. His extensive background also encompasses the FX markets, having served as a fundamental analyst at currency and commodities desks for Mumbai-based brokerages and FXStreet. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
Omkar holds a Master’s degree in Finance and a Chartered Market Technician (CMT) designation.
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
