[On a Parisian stage of finance, curtains rise; a notorious Whale enters, cloak heavy with numbers.]
Five days past, the courtiers of the market beheld one of crypto’s most famous whales-he who once pocketed $190 million by a bold short against the Trump tariff crash-only to see his fortune fall to a mere $53.
A liquidation of $250 million on Hyperliquid swept him from the boards almost in a single act.
Many cried, “Finis!” and scratched their woes upon the floor. Yet the hero returns, et non! He lives, and with a grin as sly as a broker who misplaces his spectacles.
OG whale is buying ETH again
Indeed, new on-chain whispers declare the same trader-if the oracle of the blockchain speaks true-back at the press time, wagering large once more.
The whale hath already withdrawn 80,000 Ethereum [ETH] (Worth about $168 million) from Binance [BNB], a proclamation of ardent confidence in Ethereum’s forthcoming frolic. This withdrawal, accomplished on 05 February 2026, marks a notable shift from the old sport of extreme leverage that wrought his ruin; now he pursues the noble art of spot accumulation.
In plain terms (which the audience shall surely appreciate), after losing everything, he re-enters the bazaar-this time with a long-term wager on Ethereum’s recovery.
By removing $168 million worth of Ethereum from the market, the whale reduces the spice of supply. If others follow this culinary bravura, a supply squeeze could coax the alt’s price higher.
Traders do not dispatch 80,000 ETH to private chests for ephemeral tricks. This signal suggests the whale believes the price region of $2,000-$2,100 may mark a bottom of the market, or at least a good jest of a bottom.
Signs of a possible reversal
As the quill records, ETH stands at $2060.87, after an 8.04% retreat in the last 24 hours.
On the technical stage, MACD sighs with weakness, while RSI has fallen into the oversold theatrics. Such a mixture is often thunder for a turn in the plot.
Active addresses have dwindled, yet fear not-the crowd is not fleeing in panic, merely stepping out for air between acts.
In this 2026 stage, the movements of a whale-large withdrawals from exchanges-are the true chorus predicting future price, while the number of active addresses is as reliable as a wax figure in a rainstorm. The post-upgrade spam and low-quality transactions skew the data, reducing its credibility to the theatre critics.
Thus Ethereum wrestles with a duel of sellers and buyers. Houses like Trend Research and Garrett Jin have been compelled to unload substantial ETH, worth about $738 million, to cover losses and to settle loans.
Moreover, OTC markets reveal buyers seizing 33,000 ETH in a single day, and DBS-linked wallets adding another 25,000 ETH this week.
All these acts, together with the technical portents, may indicate the market readies itself for a reversal.
Final Thoughts
- Private, grand wallet transfers suggest that the mighty players consider the $2,000-$2,100 corridor a potential long-term bottom.
- Whale movements currently outshine the mere number of active actors as indicators of market sentiment.
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2026-02-06 09:31