Crypto: Eth Whales Bought The Dip, But Will Accumulators Prevent A Drop To...

Institutional investors and crypto whales viewed the ETH price drop below $3,000 as a buying opportunity, but data still hints at a deeper sell-off to $2,700.

Ether (ETH) price saw a daily candle close below $3,000 on Tuesday, but a positive is that data showed large holders were buying throughout the dip. While ETH whale accumulation signals growing confidence, conflicting indicators suggest rising market risk for the altcoin.

ETH whales and institutional investors bought over $130 million in Ether as the price closed below $3,000 on Tuesday.

BitMine added more than 92,500 ETH in January, showcasing the growing demand for staking yield.

ETH dropped 7.83% to $2,938 on Tuesday, marking its largest daily correction since November 4, 2025. Despite the drop, onchain tracker Lookonchain reported ETH accumulation from whales and institutional investors.

According to the data, Trend Research borrowed 70 million USDt (USDT) from Aave to buy 24,555 ETH worth $75.5 million, bringing its total holdings to 651,310 ETH valued at $1.92 billion. Separately, an OTC whale address acquired 20,000 ETH, worth $58.8 million, via FalconX and Wintermute.

Institutional investor accumulation of ETH extended beyond trading desks. BitMine has added 92,511 ETH in January, valued at $268 million.

The ETH treasury company said it expects to become the largest Ethereum staking entity once its planned 4.2 million ETH is fully staked, generating an estimated $367 million to $393 million annually in staking rewards. The company added that it projects another $35 million to $40 million in income from cash operations.

However, not all large capital flows were supportive. On Wednesday, BlackRock transferred 30,828 ETH worth about $91 million to Coinbase Prime, fueling concerns over potential sell-side volatility.

Related: ETH derivatives metric turns positive after years of sell-side dominance

Source: CoinTelegraph