Ethereum Whale Buys Back $46.4M at $2,818 After Selling 30K ETH — Is a $3,000 Breakout Imminent?

In a bold and rare move, a large Ethereum [ETH] holder sold 30,000 ETH worth $78.6 million — only to buy back 16,500 ETH at a higher price just a day later. The whale’s decision to re-enter at a premium price of $2,818 reveals growing conviction and potential bullish momentum, especially as Ethereum pushes past a four-month high.

🐋 Whale Sells, Then Buys Back at Higher Price

According to Spotonchain, this major ETH whale sold 30K ETH at an average price of $2,621, locking in $6.72 million in profits.

But after Ethereum surged past $2,800, the same whale turned around and re-entered the market, purchasing 16,500 ETH for $46.4 million from Wintermute at a higher average price of $2,818.

Such behavior — selling low, then buying back higher — is rare and typically signals strong belief in future upside. When large wallets rebuy at higher levels, it’s a bullish indicator of institutional demand.

📉 Massive Outflows Signal Accumulation

This single whale isn’t alone. IntoTheBlock reports that the Large Holders Netflow to Exchange Netflow Ratio dropped to -2.83, a two-week low. This means more ETH is leaving exchanges than entering — a clear sign of accumulation.

• Over 140,000 ETH (~$393M) were withdrawn from exchanges in a single day — the largest one-day ETH withdrawal in over a month.

• Cold wallet inflows suggest that both whales and retail investors are preparing for long-term holding.

These metrics strengthen the case for rising demand despite short-term price swings.

⚔️ Profit-Taking Creates Tug-of-War

However, it’s not all clear skies. Ethereum’s price dropped 1.76% to $2,756 as short-term traders began taking profits.

According to CryptoQuant, the Exchange Netflow Ratio flipped positive, meaning more ETH is entering exchanges again — a sign that some investors are preparing to sell.

This tug-of-war reflects a fragile balance:

• On one side, whales are accumulating and removing ETH from exchanges.

• On the other, profit-takers are reintroducing selling pressure.

This dynamic could keep Ethereum range-bound between $2,400 and $2,700 unless sellers ease off.

🚀 Path to $3,000: What to Watch

A breakout toward $3,000 is still on the table, but profit-taking must cool for bulls to regain full momentum. Ethereum has shown signs of strength:

• A whale rebought at higher levels — signaling confidence.

• Record ETH outflows from exchanges reinforce long-term accumulation.

• Technical support near $2,700 is holding firm.

If this bullish base continues to strengthen and selling slows, Ethereum could test and possibly break through the $3K resistance in the near term.