🟣 Ethereum Holds Above $3,300 Despite Continuous ETF Withdrawals – Whales Take Advantage of $1.3 Billion in Stock
Despite the prolonged wave of withdrawals from Ethereum ETFs, ETH prices remain above $3,300, indicating that potential buying power from large investors is starting to balance out the selling pressure.
📉 ETF Outflows Continue
According to data from SoSoValue, Ethereum ETFs have recorded their sixth consecutive session of outflows, bringing the total to over $938 million in less than a week.
BlackRock’s ETHA led the trend, with $147 million withdrawn on November 5 alone.
In contrast, Grayscale NYSE ETH recorded $24 million in inflows, while Fidelity and 21Shares also saw slight increases of $3.45 million and $0.5 million, respectively.
This withdrawal trend reflects the growing caution of institutional investors amid the crypto market correction and weakening ETF sentiment.
💰 Whales quietly accumulate stocks
While ETFs are bleeding capital, on-chain data shows a different picture. According to Lookonchain, large wallet addresses have accumulated more than 394,000 ETH, equivalent to $1.37 billion, in just the first three days of November.
A single wallet was found to have borrowed 66,000 ETH (about $896 million) to buy more, along with accumulation activity from multiple wallet clusters related to major exchanges and organizations like Bitmine. This action shows that “big players” are taking advantage of the price drop to accumulate in areas considered to be strong support.
🔮 Two scenarios ahead for ETH
ETH is currently trading around $3,388, down 14% on the week, but still holding strong technical support at $3,100.
From a technical and psychological perspective, the market is stuck in two directions:
Negative scenario: If ETF inflows continue and liquidity declines, ETH could correct further towards the $2,900 region.
Positive scenario: If whale buying activity continues and ETF sentiment stabilizes, ETH could bounce, retesting the $3,750 and $4,250 levels in the short term.
⚙️ Medium-term outlook: Accumulate before recovery
Despite weak ETF inflows, price stability around $3,300 suggests that supply-demand dynamics remain balanced. Short-term institutional withdrawals could be a portfolio restructuring move, while whales are preparing for the next growth cycle.
If capital flows return and confidence in ETF products is restored, Ethereum could very well establish a new price base to move towards higher levels in Q4/2025.
Summary:
Ethereum is in a “test of fire” phase with strong ETF withdrawals but still keeping the price stable. The silent accumulation of whales is an important signal that long-term buying power still exists, and the $3,100–$3,300 area could become a strategic bottom before the market enters the next growth cycle.
