Why Ethereum’s 96.66% Whale Control Could Trigger the Next 70% Price Explosion

Large investors bought 130,000 ETH near $1,781, mirroring 2023 accumulation patterns that preceded a 71% price rally. ETH fell 15% in a month, broke $2,000 support; Bitcoin’s dominance hit 61%, a four-year high. Ethereum’s price behavior in recent weeks has drawn comparisons to its 2023 cycle, when a prolonged consolidation phase preceded a sharp upward move. On-chain data reveals that large investors accumulated over 130,000 ETH as prices briefly touched $1,781, signaling buying activity near a historically important price level. Ethereum whales are buying the dip, with the largest $ETH wallets adding over 130k ETH to their wallets yesterday pic.twitter.com/hLbDhO3Z6n — IntoTheBlock (@intotheblock) April 3, 2025 This pattern mirrors accumulation trends from late 2023, when similar whale purchases preceded a 71% quarterly price surge. Despite this, Ethereum faces challenges: its value has dropped 15% in the past month, falling below $2,000 for the first time since 2022, while Bitcoin’s market dominance has climbed to a four-year high of 61%. ETHNews analysts point to two factors that could influence Ethereum’s trajectory. First, macroeconomic uncertainty linked to U.S. election-related fiscal policies might divert investor attention from Bitcoin to alternative assets. Source: Tradingview Second, the concentration of ETH holdings among major wallets has reached unprecedented levels, with the top 1% of addresses controlling 96.66% of the supply. This metric previously peaked in late 2023, coinciding with Ethereum’s rally to $4,012. Current accumulation at lower price points suggests some investors view $1,780-$1,830 as a strategic entry zone. However, Ethereum’s performance relative to Bitcoin complicates the outlook. The ETH/BTC trading pair has slumped to a five-year low, reflecting Bitcoin’s stronger resilience during recent market turbulence. Source: Glassnode Ethereum’s market share among cryptocurrencies has also declined sharply, dropping from double-digit percentages in 2023 to 8%—a record low. This shift indicates capital has flowed disproportionately toward Bitcoin, potentially limiting Ethereum’s near-term upside. Historical data shows that whale activity played a decisive role in Ethereum’s 2023 breakout. Large investors began accumulating ETH during its six-month consolidation, with buying accelerating in Q4 as prices broke upward. Today, similar accumulation is occurring, but within a different macro context. Bitcoin’s dominance has created headwinds, while regulatory scrutiny of altcoins persists. Source: CoinMarketCap ETHNews analysts are divided on whether Ethereum’s current price action represents a durable bottom or a temporary pause before further declines. Proponents of a bullish case highlight the $1,780-$1,830 range as a demand zone where institutional buying has historically emerged. Skeptics note that Ethereum’s weakening position against Bitcoin and reduced market share could prolong its u in a formal or creative style, maintaining a 500 word count. You must only respond with the modified content. Change the tone of my title “Large investors bought 130,000 ETH near $1,781, mirroring 2023 accumulation patterns that preceded a 71% price rally. ETH fell 15% in a month, broke $2,000 support; Bitcoin’s dominance hit 61%, a four-year high. Ethereum’s price behavior in recent weeks has drawn comparisons to its 2023 cycle, when a prolonged consolidation phase preceded a sharp upward move. On-chain data reveals that large investors accumulated over 130,000 ETH as prices briefly touched $1,781, signaling buying activity near a historically important price level. Ethereum whales are buying the dip, with the largest $ETH wallets adding over 130k ETH to their wallets yesterday pic.twitter.com/hLbDhO3Z6n — IntoTheBlock (@intotheblock) April 3, 2025 This pattern mirrors accumulation trends from late 2023, when similar whale purchases preceded a 71% quarterly price surge. Despite this, Ethereum faces challenges: its value has dropped 15% in the past month, falling below $2,000 for the first time since 2022, while Bitcoin’s market dominance has climbed to a four-year high of 61%. ETHNews analysts point to two factors that could influence Ethereum’s trajectory. First, macroeconomic uncertainty linked to U.S. election-related fiscal policies might divert investor attention from Bitcoin to alternative assets. Source: Tradingview Second, the concentration of ETH holdings among major wallets has reached unprecedented levels, with the top 1% of addresses controlling 96.66% of the supply. This metric previously peaked in late 2023, coinciding with Ethereum’s rally to $4,012. Current accumulation at lower price points suggests some investors view $1,780-$1,830 as a strategic entry zone. However, Ethereum’s performance relative to Bitcoin complicates the outlook. The ETH/BTC trading pair has slumped to a five-year low, reflecting Bitcoin’s stronger resilience during recent market turbulence. Source: Glassnode Ethereum’s market share among cryptocurrencies has also declined sharply, dropping from double-digit percentages in 2023 to 8%—a record low. This shift indicates capital has flowed disproportionately toward Bitcoin, potentially limiting Ethereum’s near-term upside. Historical data shows that whale activity played a decisive role in Ethereum’s 2023 breakout. Large investors began accumulating ETH during its six-month consolidation, with buying accelerating in Q4 as prices broke upward. Today, similar accumulation is occurring, but within a different macro context. Bitcoin’s dominance has created headwinds, while regulatory scrutiny of altcoins persists. Source: CoinMarketCap ETHNews analysts are divided on whether Ethereum’s current price action represents a durable bottom or a temporary pause before further declines. Proponents of a bullish case highlight the $1,780-$1,830 range as a demand zone where institutional buying has historically emerged. Skeptics note that Ethereum’s weakening position against Bitcoin and reduced market share could prolong its u” for a more friendly approach. Keep the content length about the same. You must only respond with the modified content.