Ethereum

Future

2024

Billion

Bold

<ul>
 <li>Whales buy $1.12 billion in Ethereum after sharp $3,000 dip.</li>
 <li>Coinbase Premium turns negative, signaling weaker U.S. investor demand.</li>
 <li>Bearish sentiment spikes as accumulation hints at possible market bottom.</li>
</ul>
Ethereum briefly dipped under the $3,000 mark earlier today, sparking anxiety among retail traders after a series of liquidations swept through the market. <a href="https://x.com/lookonchain/status/1985908966648664376" target="_blank" rel="noopener noreferrer nofollow">According to Lookonchain</a>, the decline flushed out highly leveraged longs but also attracted large investors, who bought over 323,523 ETH valued at $1.12 billion within the last two days. 
After the sell-off, <a href="https://36crypto.com/major-cryptocurrencies-decline-as-market-sees-mild-correction-within-24-hours/" target="_blank" rel="noopener noreferrer nofollow">Ethereum quickly rebounded above $3,000</a> and hovered near $3,315 at press time. This bounce signaled that buyers defended the key round number, reaffirming that the $3,000 zone still acts as a strong floor even amid weak U.S. market participation. 
<div class="embed-twitter">
 <blockquote class="twitter-tweet">
 Despite the recent <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> drop, many whales have been buying the dip — accumulating 323,523 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a>($1.12B) over the past 2 days. <a href="https://t.co/KOA1Z4VAab" rel="noopener noreferrer nofollow">pic.twitter.com/KOA1Z4VAab</a> 
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1985908966648664376?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 5, 2025</a> 
 </blockquote>
 
</div>
Also Read: <a href="https://36crypto.com/ripple-swell-2025-sets-bold-tone-for-the-future-of-digital-finance/" target="_blank" rel="noopener noreferrer nofollow">Ripple Swell 2025 Sets Bold Tone for the Future of Digital Finance</a> 
<h2 id="strong-market-cycle-enters-distribution-stage-strong">Market Cycle Enters Distribution Stage</h2>
CryptoQuant data <a href="https://cryptoquant.com/insights/quicktake/690ae9e953a486722b83187a-3K-ETH-The-Drop-Explained" target="_blank" rel="noopener noreferrer nofollow">revealed</a> that Ethereum has now completed a full four-stage market cycle—decline, accumulation, markup, and distribution. Following its August peak above $4,500, ETH entered a consolidation phase and eventually broke below major support levels tied to volume-weighted averages from 2021 and 2024 highs. 
This breakdown shifted the overall tone from buyer-controlled to neutral-to-bearish. <a href="https://cryptoquant.com/insights/quicktake/690a60109d880c122bdefbbb-US-Selling-Alert-Ethereums-Coinbase-Premium-Plunges-to-Multi-Month-Low" target="_blank" rel="noopener noreferrer nofollow">Binance recorded roughly $39 million</a> in liquidated long positions this week, the largest since early October, underscoring the intensity of the correction. 
<h2 id="strong-coinbase-premium-turns-negative-as-u-s-demand-fades-strong">Coinbase Premium Turns Negative as U.S. Demand Fades</h2>
<a href="https://cryptoquant.com/insights/quicktake/690a60109d880c122bdefbbb-US-Selling-Alert-Ethereums-Coinbase-Premium-Plunges-to-Multi-Month-Low" target="_blank" rel="noopener noreferrer nofollow">The “Coinbase Premium Index</a>,” which compares Coinbase and Binance pricing, fell to -0.057—its lowest since April. The negative reading indicates weaker demand from U.S. traders, who appear to be selling into rallies or reducing exposure. 
Throughout the mid-year rally, American investors consistently paid a premium for ETH, but that trend has now reversed. Analysts say a lasting rebound requires the premium to turn positive again, showing renewed U.S. accumulation. Until then, price recovery could face resistance between $3,250 and $3,400. 
<h2 id="strong-sentiment-turns-bearish-but-may-signal-a-local-bottom-strong">Sentiment Turns Bearish but May Signal a Local Bottom</h2>
<a href="https://x.com/santimentfeed/status/1985875807923761280" target="_blank" rel="noopener noreferrer nofollow">Santiment reported</a> that Ethereum’s social sentiment has dropped to its second most negative level in six months. Historically, these extreme fear readings have coincided with local bottoms and short-term reversals. 
<div class="embed-twitter">
 <blockquote class="twitter-tweet">
 <img src="https://s.w.org/images/core/emoji/16.0.1/72x72/1f631.png" alt="😱" style="height: 1em; max-height: 1em;"> Bitcoin's drop to $98.9K and Ethereum's to $3.09K may have your timeline showing fellow traders left in shambles. But social data indicates there are still many buying dips with confidence. We look at <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a>, &amp; <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$XRP</a> sentiment after the bloodbath. <img src="https://s.w.org/images/core/emoji/16.0.1/72x72/1f447.png" alt="👇" style="height: 1em; max-height: 1em;"><a href="https://t.co/smG1LYyI77" rel="noopener noreferrer nofollow">https://t.co/smG1LYyI77</a> <a href="https://t.co/SdEusnzXUv" rel="noopener noreferrer nofollow">pic.twitter.com/SdEusnzXUv</a> 
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1985875807923761280?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 5, 2025</a> 
 </blockquote>
 
</div>
Combined with heavy whale buying, the pessimistic sentiment may point to an approaching market reset. If ETH can sustain moves above $3,200 with strong volume, traders expect the next major resistance to be around $3,600 to $3,800. Failure to defend $2,900 to $3,000 support, however, could open room for a deeper slide near $2,700. 
Also Read: <a href="https://36crypto.com/china-freezes-24-tariffs-on-us-goods-as-bitcoin-skyrockets-past-100000-mark/" target="_blank" rel="noopener noreferrer nofollow">China Freezes 24% Tariffs on US Goods as Bitcoin Skyrockets Past $100,000 Mark</a> 
The post <a rel="noopener noreferrer nofollow" href="https://36crypto.com/ethereum-holds-key-3000-line-as-whales-scoop-up-1-12-billion-in-massive-accumulation/">Ethereum Holds Key $3,000 Line as Whales Scoop Up $1.12 Billion in Massive Accumulation</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://36crypto.com">36Crypto</a>.

Ethereum Holds Key $3,000 Line as Whales Scoop Up $1.12 Billion in Massive Accumulation

Table of Contents

36crypto

Other articles published on Nov 5, 2025

Join our free newsletter for daily crypto updates!