How to Use Whale Activity to Time Your ETH Bottom-Fishing Strategy

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The movements of crypto whales—entities holding massive amounts of digital assets—often precede significant market shifts. Monitoring their on-chain behavior can offer retail investors valuable insights, especially when timing entries during volatile corrections. With Ethereum (ETH) recently under pressure and major holders actively transferring large volumes to exchanges, now is a critical moment to understand how whale data can guide smarter investment decisions.

This article explores recent whale activities involving ETH, analyzes key technical levels, and demonstrates how metrics like ETH/BTC Longs can enhance bottom-fishing strategies—all while maintaining a disciplined, data-driven approach.

Major ETH Whale Moves: Sun’s Transfer to HTX

On December 24, 2024, three wallet addresses associated with “Brother Sun” (commonly referred to in Chinese crypto communities), starting with 0x7a9, 0x205, and 0x79a, collectively transferred 88,926 ETH to the HTX exchange. This large-scale deposit signaled potential selling pressure, coinciding with a 6.6% drop in ETH’s price shortly afterward.

Historically, similar transfers by this whale have preceded sharp corrections, earning him a reputation as a contrarian market timer—often exiting near tops and re-entering during deep pullbacks. Past analysis shows that such movements are not random but part of a calculated strategy tied to macro market sentiment and on-chain indicators.

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While the full extent of his intentions remains unclear—especially whether more ETH will be moved to Binance or other platforms—the timing suggests caution. Such large inflows into exchanges typically increase sell-side liquidity, raising downside risks in the short term.

For transparency, here are the verified Ethereum addresses involved:

Tracking these wallets via blockchain explorers allows investors to react proactively rather than reactively.

ETH Technical Outlook: Testing Support at $3,300

Despite the whale activity, ETH has found temporary support around the $3,300 level on the four-hour chart. However, resistance remains strong at the 200-period EMA, with additional confluence near the Fibonacci 0.382 retracement level above.

Even if price breaks through immediate resistance, the broader trend remains bearish unless sustained closes occur above the 200 EMA. A true reversal signal would require both technical confirmation and supporting on-chain data—such as reduced exchange inflows and rising accumulation activity.

One powerful metric to watch is the ETH/BTC Longs ratio on Bitfinex. This indicator reflects how aggressively traders are betting on ETH outperforming Bitcoin. Historically, surges in ETH/BTC long positions have aligned closely with bottom formations and subsequent rallies.

Notably, despite ETH shedding nearly 25% from its recent highs, there has been no significant increase in long positioning. This lack of conviction among large traders suggests that the current dip may not yet be the final shakeout.

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Therefore, combining technical structure with sentiment indicators provides a more complete picture:

Only when multiple signals align should investors consider aggressive accumulation.

BTC Whale Activity: New Wallet Withdrawals from Binance

In late December 2024, a Bitcoin address beginning with 3ps78k withdrew 1,000 BTC on the 28th and another 1,700 BTC on the 29th from Binance. These withdrawals suggest potential accumulation or cold storage moves, though without further context, the intent remains ambiguous.

Unlike sell-side transfers to exchanges, withdrawals often indicate confidence in holding through volatility. If this wallet belongs to a known institutional player or long-term holder, it could reflect strategic positioning ahead of anticipated upside.

Bitcoin’s current price action shows consolidation between $90,500 and $92,232, with recent candles closing above the lower bound. While no clear directional signal has emerged yet, stability in this range may lay the groundwork for a rebound—especially if macro conditions improve.

Still, given Ethereum’s historically stronger performance during Q1 cycles—driven by network upgrades, staking yields, and ecosystem growth—many traders are shifting focus toward ETH and select altcoins for higher-alpha opportunities.

Arthur Hayes Moves ENA to Bybit

On December 22, 2024, an address linked to former BitMEX CEO Arthur Hayes transferred 2 million ENA tokens to Bybit. The wallet now holds approximately 7.94 million ENA, leaving room for further action—either增持 (accumulation) or additional selling.

This follows a prior move where Hayes transferred 7 million ENA to Binance, which was followed by a 20% decline in ENA’s price. While past performance doesn’t guarantee future results, such patterns warrant attention due to Hayes’ track record of macro-level market timing.

From a technical standpoint, ENA continues to trade within a potential descending wedge on the four-hour chart. A valid breakout would require:

Until then, the pattern remains speculative. Traders should wait for confirmation before assuming bullish continuation.

Core Keywords for Strategic Insight

To optimize visibility and relevance, here are the core keywords naturally integrated throughout this analysis:

These terms reflect high-intent search queries from investors seeking actionable intelligence—not just news updates.

Frequently Asked Questions

Q: Why do whale transfers matter for retail investors?

A: Whales often have superior information and resources. When they move large amounts of crypto to exchanges, it may signal upcoming selling pressure. Conversely, withdrawals or long-position buildup can indicate confidence in future price gains.

Q: Is every whale move predictive of price direction?

A: No. Not all transfers lead to immediate price changes. Context matters—such as the whale’s history, market conditions, and whether the movement is isolated or part of a broader trend.

Q: What is the ETH/BTC Longs ratio and why is it useful?

A: It measures how many traders are betting on Ethereum outperforming Bitcoin. Rising longs often precede periods where ETH gains momentum relative to BTC—making it a valuable leading indicator.

Q: How can I track whale wallets without technical expertise?

A: Several platforms provide user-friendly dashboards showing real-time whale transactions, exchange flows, and funding rates. Some even offer alerts for specific addresses.

Q: Should I always follow whale moves?

A: Never blindly copy any single actor—even whales make mistakes. Use their actions as one piece of a broader strategy that includes technicals, fundamentals, and risk management.

Q: What defines a “bottom” in crypto markets?

A: A true bottom typically features capitulation (high volume sell-off), low sentiment, reduced exchange inflows, and early accumulation signs. It’s rarely obvious in real time and requires patience.

Final Thoughts

Whale tracking isn’t about chasing every transaction—it’s about identifying patterns that align with broader market dynamics. The recent ETH transfers by “Brother Sun,” combined with muted long interest on Bitfinex, suggest that while value may be emerging, the coast isn’t fully clear yet.

By integrating on-chain data, technical structure, and sentiment indicators, investors can build a robust framework for timing entries with greater precision. Whether you're focused on Ethereum, Bitcoin, or emerging layer-1 projects like ENA, staying informed gives you an edge.

👉 Start monitoring live whale movements and exchange flows today—before the next big move happens.

Always remember: information is power—but only when applied with discipline and perspective.