Ethereum whales buy 11,000+ ETH amid market rebound as ETF inflows and technical signals hint at renewed bullish activity.
The crypto market is showing signs of life again. Ethereum is leading recovery after a brutal few weeks, fueled partly by geopolitical tensions tied to escalating US-Israel-Iran conflicts.
ETH price hovers just below the $2,000 mark as of this publication. On-chain data tells an even bigger story. Ethereum whales are back, and they are moving serious money.
Ethereum Whale Wallets Wake Up After Months of Silence
Lookonchain flagged two major wallet addresses piquing interest this week.
Addresses 0x7673 and 0xBA9A, which crypto analysts believe belong to the same whale, had been completely dormant for three months. Then, out of nowhere, they came back with force.
As the market rebounds, whales are buying $ETH again.
3 hours ago, whale 0xE1Ad withdrew 6,114 $ETH($12.52M) from #OKX and deposited it into #Aave.
0x7673 and 0xBA9A (likely belonging to the same whale) came back after 3 months of inactivity and spent $10.93M to buy 5,350 $ETH… pic.twitter.com/Zb8GDfIkRZ
— Lookonchain (@lookonchain) March 3, 2026
The two wallets spent $10.93 million to purchase 5,350 ETH at an average price of $2,043, routing the buy through Cow Protocol.
That kind of move after months of inactivity turns heads in the crypto space. It signals that a large holder sat out the worst of the downturn and is now stepping back in.
The timing lines up with broader market recovery sentiment, which has seen the total crypto market cap rise by 1.5%.
Meanwhile, a separate whale, identified as wallet 0xE1Ad, pulled 6,114 ETH worth $12.52 million off the OKX exchange. The funds did not sit idle. The whale deposited the entire amount into Aave, the decentralized lending protocol, likely to generate yield.
Combined, these two moves account for more than 11,000 ETH changing hands in a matter of hours.
Related Reading: ETH Holds Monthly Support: Is a Multi-Week Pump About to Begin?
ETH Technical Picture Points to a Potential Bottom
Beyond raw whale activity, crypto analyst MaeliusCrypto shared a detailed technical read on Ethereum’s weekly chart.
According to the analyst, ETH has completed an ABC corrective pattern, with the severity of the C leg matching the A leg. That symmetry often signals the end of a bearish correction phase.
ABC corrective move looks to be completed w/ severity of C leg matching the one of A.
W2 bounced off the HTF Demand 2 zone, keeping the count it place.
1W RSI bouncing off the same levels as at Apr-25 lows, w/ WTO crossing back bullish.
If the worst is behind us, then $ETH… pic.twitter.com/Xb6JSBBKII
— Maelius (@MaeliusCrypto) March 3, 2026
MaeliusCrypto also pointed out that ETH’s weekly RSI bounced from the same levels it hit during the April 2025 lows.
On top of that, the Wave Trend Oscillator crossed back into bullish territory. The analyst noted that if the worst of the correction is behind ETH, the asset could see some breathing room in the weeks ahead.
Per CoinGecko data, ETH was trading at $1,953.69 at press time. The 24-hour trading volume came in at over $26.4 billion. While the token posted a slight 0.63% dip in the past 24 hours, it gained nearly 7% over the past seven days.
ETH ETF Inflows Add More Fuel to the Recovery
Institutional interest is also picking back up.
According to Farside Investors, US Ethereum ETFs recorded a net inflow of $38.7 million on March 2, 2026. BlackRock’s ETHA fund led the pack with $26.5 million in fresh inflows. Fidelity’s FETH added $1 million, while ETHW brought in $2.2 million.
Grayscale’s ETHE contributed $4.2 million, and the CME ETH product added $4.8 million.
Institutional buying through regulated ETF products adds a layer of demand that on-chain whale activity alone does not capture.
Together, both signals point to growing confidence in ETH at current price levels. Whether that confidence holds will depend on how the broader market develops in the days ahead.
