Ethereum

Arkham

Ethereum whales have opened massive long positions on Ether (<a href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow" target="https://cointelegraph.com/ethereum-price">ETH</a>), totalling $425.98 million, in what looks like a bold bet that the downside is over.
Key takeaways:
<ul>
 <li>Ethereum whales opened leveraged long positions totaling $426 million.</li>
 <li>Ether’s ascending triangle targets $4,030 ETH price.</li>
</ul>
<h2 id="top-traders-open-new-eth-long-positions">Top traders open new ETH long positions</h2>
Data from <a href="https://subscription.cointelegraph.com/?_gl=1*enpnlb*_ga*MTE3NDE3MjgzMC4xNzE1NjcwODE1*_ga_53R24TEEB1*MTc0NDcyNDI2NS40MS4xLjE3NDQ3MjQyNjkuNTYuMC45MTY3MzAwMzI." rel="noopener noreferrer nofollow">Cointelegraph Markets Pro</a> and <a href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BITSTAMP" rel="noopener noreferrer nofollow" target="_blank">TradingView</a> showed the ETH/USD pair trading at $3,140, 20% above the $2,621 low reached on Nov. 21.&nbsp;
Holding above $3,000, Ether offered some cause for optimism ahead of key volatility triggers.
Related: <a href="https://cointelegraph.com/news/vitalik-buterin-floats-futures-market-allowing-users-prepay-gas-fees" rel="noopener noreferrer nofollow">Vitalik Buterin floats gas futures on Ethereum to hedge fee spikes</a>
A Fed rate cut decision is expected on Wednesday, and markets are <a href="https://cointelegraph.com/news/bitcoin-december-recovery-macro-fed-rate-cut-coinbase?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound" rel="noopener noreferrer nofollow">pricing in a 25-basis-point rate cut</a>.
As market participants waited for triggers, attention has shifted to three “smart” whales with impressive track records, who have opened long positions, totaling 136,433 ETH, worth about $425.98 million, according to data from Lookonchain.
One whale, BitcoinOG (1011short), has a long position of $169 million in ETH, while Anti-CZ has a long exposure of $194 million.&nbsp;
<blockquote class="twitter-tweet">
 Smart whales are all unanimously going long on <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>!<a href="https://twitter.com/hashtag/BitcoinOG?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitcoinOG</a>(1011short), with $105M in total PNL, is long 54,277 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($169.48M). Anti-CZ whale, with $58.8M in total PNL, is long 62,156 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($194M). pension-usdt.eth, with $16.3M in total PNL, is long 20,000 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($62.5M).… <a href="https://t.co/idHbyTePTv" rel="noopener noreferrer nofollow">pic.twitter.com/idHbyTePTv</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1997848315598348556?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 8, 2025</a>
</blockquote>
A third whale, pension-usdt.eth, is long 20,000 ETH, worth about $62.5 million at current rates.
Besides these whales, Arkham Intelligence <a href="https://x.com/arkham/status/1997364960590995965" rel="noopener noreferrer nofollow" target="_blank">noted</a> that another whale, 0xBADBB, is using two accounts to go long for a total of $189.5 million in ETH.&nbsp;
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-12/019afd2d-60c3-7c56-834a-7f516e4ccbaa" title="" alt="Ethereum ‘smart’ whales open $426M long bets as ETH price chart eyes $4K">
 <figcaption style="text-align: center;">
 Ethereum whale’s long positions. Source: Arkham Intelligence
 </figcaption>
</figure>
These moves coincide with BitMine’s continued push into Ethereum. Last week, the company <a href="https://cointelegraph.com/news/bitmine-buys-199m-eth-smart-money-traders-eth" rel="noopener noreferrer nofollow">added $199 million more ETH</a>, bringing its total holdings to 3.73 million ETH ($13.3 billion), cementing its position as the largest corporate holder of ETH.&nbsp;
This reinforces the narrative that whales and institutions view the recent ETH price rebound above $3,000 as a good entry point.
<h2 id="ether-s-ascending-channel-targets-4-000-eth-price">Ether’s ascending channel targets $4,000 ETH price&nbsp;</h2>
Ether’s price action has formed a classic ascending triangle on the daily chart, as shown below. The break above the multimonth downtrend line on Tuesday increased the prospects of a sustained recovery.&nbsp;
The pattern will resolve once the price breaks above the triangle’s resistance line at $3,250. If this happens, the price could rise by as much as the maximum distance between the triangle’s trendlines.
That puts Ether’s breakout target at about $4,020, up by more than 28% from current price levels. 
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-12/019afd2d-6a0d-7ab8-a854-6f6c900ca171" title="" alt="Ethereum ‘smart’ whales open $426M long bets as ETH price chart eyes $4K">
 <figcaption style="text-align: center;">
 ETH/USD daily chart. Source: Cointelegraph/<a href="https://www.tradingview.com/x/0kSsVWZn/" rel="noopener noreferrer nofollow" target="_blank">TradingView</a>
 </figcaption>
</figure>
The <a href="https://cointelegraph.com/news/here-s-3-ways-the-relative-strength-index-rsi-can-be-used-as-a-sell-signal" rel="noopener noreferrer nofollow" target="_self">relative strength index</a> has increased to 50, from oversold conditions at 28 on Nov. 28, suggesting increasing upward momentum.
However, the recovery could be curtailed by resistance from the $3,350-$3,550 resistance zone, where both the 50-day and 100-day SMAs currently sit. Beyond that, the next major hurdle is the 200-day SMA at $3,800.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Ethereum ‘smart’ whales open $426M long bets as ETH price chart eyes $4K

Table of Contents

Cointelegraph

Other articles published on Dec 8, 2025

Join our free newsletter for daily crypto updates!