- Ethereum’s breakout mirrors 2021 setup, pushing altcoins toward new rallies.
- Whales accumulated 500,000 ETH in 48 hours, boosting confidence.
- Tom Lee’s $45M purchase confirms institutional demand for Ethereum.
Ethereum is showing strong momentum against Bitcoin, driving expectations of a confirmed altseason. Data shared by Mikybull Crypto showed ETH/BTC moving above key moving averages.
The pair broke resistance around 0.038 BTC and is now climbing toward 0.041 BTC. This setup was last seen in August 2021, when Ethereum’s breakout triggered broad altcoin rallies.
The Relative Strength Index indicates sustained bullish strength, signaling more room for upward movement. Analysts emphasize that this technical confirmation may mark the beginning of a massive cycle for altcoins.
Whales Buy 500,000 ETH in 48 Hours
Snatiment data shows whales accumulated 500,000 ETH within 48 hours, coinciding with Ethereum’s recent price surge. Analyst Ali Martinez reported that whales are positioning ahead of the next major rally.
He explained that such aggressive accumulation often precedes sharp upward movements. Large wallet holdings are rising quickly, highlighting strong institutional and whale demand in the market. This trend adds weight to the view that Ethereum is preparing for a new cycle.
Tom Lee Purchases $45 Million in Ethereum
Arkham reported that Tom Lee purchased $45 million worth of Ethereum, underscoring growing institutional confidence. Data revealed two transfers from FalconX to Bitmine, totaling nearly 9,600 ETH valued at $45.6 million.
Bitmine now holds more than $7 billion in Ethereum, ranking it among the largest institutional holders. Analysts described these inflows as a major bullish signal.
Tom Lee said Ethereum remains undervalued and positioned for strong growth, aligning with recent technical and on-chain data.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
