Ethereum Price Prediction: Whale Just Snapped Up $422M ETH — Big News Coming?

The Ethereum price has risen to $2,491 this morning, with the altcoin continuing to repair the damage that followed US airstrikes against targets in Iran over the weekend.

However, ETH remains down by 4% in a week and by 13% in the past fortnight, as the conflict in the Middle East – and the ongoing uncertainty over tariffs – continues to weigh down altcoin prices.

But the recent actions of a whale – who has accumulated $422 million in ETH in the past three weeks – suggest that the coin’s fortunes may be about to change.

It could therefore be in a prime position to make a sustained recovery very soon, and given its rock-solid fundamentals, the long-term Ethereum price prediction continues to look bullish.

Posting on X, investor Ted Pillows noted that one particular whale or institution purchased $8.91 million in Ethereum via Galaxy Digital yesterday, making for a total of $422 million amassed in less than a month.

This whale/institution bought another $8,910,000 $ETH.

They bought $422,000,000 $ETH in the past 3 weeks. pic.twitter.com/0gVlAcYpGW

As weak as the Ethereum price has been in recent weeks and months, this is highly bullish news for ETH, suggesting that the smart money believes it will do very well in the medium- and long-term.

In fact, as we’ve noted before, institutions have been buying lots of Ethereum, with this week’s CoinShares Digital Asset Funds Flow report showing that digital funds added $123 million in ETH to their coffers in the seven days to June 23.

It’s possible that institutions are piling into Ethereum right now because of how oversold and undervalued the coin remains, given that it’s still 50% down from its ATH of $4,800 (set in November 2021).

And because Ethereum remains the biggest layer-one network in the ecosystem (with a TVL of $61.7 billion), it certainly seems credible to claim that it will rebound strongly soon.

Looking at its chart today, we see that ETH is beginning to bounce from a weak position, with its RSI (purple) almost reaching 50 today.

Its moving average convergence divergence (blue, orange) has also bottomed out in recent days, another sign that we may be at the beginning of a growth period.

This is certainly what the whales accumulating Ethereum currently believe, although whether they’re anticipating some big news is another question.

It may simply be that Ethereum will continue expanding and evolving as a layer-one blockchain, with recent and upcoming upgrades making it more efficient as a platform.

Based on this, we can expect to see the Ethereum price reach $3,000 by the end of July, and $3,500 by September.

For those traders wanting to look beyond major tokens such as Ethereum, there are numerous newer coins in the market that have been showing lots of potential recently.

One of the most interesting of these is Bitcoin Bull (BTCBULL), a deflationary meme token that has now raised over $7.3 million in its soon-to-be-ending presale.

10 Days left. Clock's ticking. pic.twitter.com/pS1VGwCWJP

Its presale now has only 5 days left to run, with investors rushing to buy some BTCBULL early, before it lists on exchanges and potentially rallies.

What’s exciting about Bitcoin Bull is that its deflationary tokenomics are linked to the price movements of Bitcoin (BTC).

That is, with a hard cap of 21 billion BTCBULL, it will host token burns whenever BTC adds another $25,000 to its price for the first time, starting from $125,000.

It will also conduct airdrops of Bitcoin itself when BTC adds another $50,000, beginning from $150,000.

This could make BTCBULL a hugely lucrative coin to hold, with the Ethereum-based token also open to staking.

While its sale is very close to ending, investors can join it now by going to the Bitcoin Bull website and connecting a compatible wallet.

It’s selling at its final presale price of $0.00258, although its growth suggests that it could rise well beyond this level once it goes on exchanges.

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