Ether Posts 10% Weekly Loss as Whale Accumulates $300M, Signaling Diverging Market Sentiment
Ethereum’s native token, ether (ETH), dropped nearly 10% this week, marking its first weekly decline since June and halting a five-week rally. The downturn reflects a shift in sentiment across crypto markets, triggered by renewed macroeconomic uncertainty and a stronger U.S. dollar.
ETH briefly fell below $3,400, as traders rotated out of higher-beta assets following a weaker-than-expected U.S. jobs report and persistent concerns about global liquidity conditions.
But despite the drawdown, on-chain data from Arkham Intelligence reveals a large investor accumulated over $300 million in ETH, suggesting confidence in the asset’s longer-term trajectory. The timing of this accumulation has sparked discussion of a potential bullish divergence, as price action weakens while high-conviction buying accelerates.
“This type of strategic accumulation amid a broader selloff typically signals that institutional players view the pullback as temporary,” noted one market strategist.
Bitcoin (BTC) outperformed ETH this week, declining just 4.5%, further underscoring a possible sentiment rotation in the market. Options market activity has also pointed to declining relative demand for ETH versus BTC in recent weeks.
Still, the scale of the whale’s purchase may serve as a counterbalance to short-term pressure, offering support near current levels and reinforcing a narrative of long-term accumulation.
With ETH now hovering around $3,400, traders are watching closely to see whether this whale activity marks the beginning of a new leg higher — or merely a pause before further downside
