Bitfinex whales are opening Ethereum longs at a pace seen only once before, in 2020 ahead of a 12x rally. Retail remains fearful around $2,300, but that positioning points to a rally. x.com
Merlijn The Trader
Bitcoin & Altcoin Trader, Founder of Profitz Academy
Whales waiting below while retail buys make Bitcoin vulnerable to a flush before a bear trap reverses it. After 3-5 days of chop, the path runs to $75K/$70K, rebounds to $87K, then targets $98K and $116K; the attached chart marks $126K as a mid-term target. x.com
A whale who made $4.8M in two months just put $46M into Bitcoin and $45M into Ethereum, positioning that suggests smart money sees a move coming. The positions lose only if Bitcoin hits $75K and Ethereum drops to $2,247. x.com
Ethereum faces slightly higher near-term selling risk as net inflows raise Binance's sellable ETH supply. Some 55,471 ETH entered and 47,596 left, net 7,875, though both flows have slowed. If inflows persist this week with ETF outflows and high US Treasury yields, pressure could grow around the Fed decision. Rising cumulative ETH 2.0 transactions bode well for network use, not direct demand or relief today. Losing $2,280-2,300 adds downside risk; recovery needs flow and price confirmation. x.com
Ethereum's upside looks worth the bet because the payoff to its prior high is much larger than the downside, and buyers still respond to good news. There is roughly 16% down to $1,950 versus a little over 2x back to the prior all-time high. LIT caught a sharp bid around its US regulatory plans, and CHIP rallied 40% around a $1 million buyback; that response looks like a bull-market sign. x.com
Bitcoin and Ethereum's pullback is a nothing burger meant to shake people out, and this phase will lead to the next breakout higher. Bears are doubling down on shorts, with open interest rising while funding rates have turned negative. x.com
Ethereum faces further downside as smart money sells into strength during distribution. A move toward $2,070 comes first; a break there puts $1,800 in view, with a possible local bottom near $1,600-$1,700 where liquidity sits. Until that sweep, bounces are for selling; a real reversal comes only afterward. x.com
Ethereum has a real chance this cycle to break out of the range it has traded in for five years. Reclaiming and holding above $5,000 would confirm the breakout and could trigger a massive expansion, with $10,000 only the beginning. ETH/BTC is holding near multi-year lows while ETH presses toward the range highs, spot demand is improving, supply at $4K–$5K is being tested repeatedly, and the wider crypto market is moving into a stronger risk-on phase. x.com
Ethereum is seeing the most aggressive whale buying in history: whales have absorbed every one of the 2.7M ETH that smaller wallets sold since January. x.com
Ether's price is falling while open interest rises, meaning leverage is building into the dump, a setup that tends to end badly for longs. x.com
ETH's return to $2,700 bears out the bottom call, because holders concentrated at $2,700–2,800 kept holding instead of becoming sell pressure. About 13.38M ETH now sits in that band, 380,000 more than two months ago, creating favorable conditions for the recovery. From $2,700 to $3,000 a large amount of supply flips from unrealized loss to profit, so that band should be fairly strong resistance, and whale behavior will largely shape what follows. x.com