Kraken played a key role in the movement. One of its wallets handled a single transfer of 31,117 ETH, worth nearly $125 million.
As per Ethereum price prediction suggested by a crypto analyst, ETH is repeating a clear cycle of sharp drops followed by explosive rallies.
He argues this structure could drive the next big surge, with an Ethereum price prediction that points toward the $6,000 mark.
The largest altcoin is showing a familiar pattern: sharp pullbacks followed by powerful rallies. He believes this setup could pave the way for a run toward the $6,000 level.
At the same time, on-chain data reveals that large investors are already positioning for such a move.
Over just two days, at least 15 wallets have accumulated more than 406,000 ETH, an investment worth around $1.6 billion.
This combination of technical momentum and aggressive whale accumulation is setting the stage for what could become Ethereum’s next major breakout.
Ethereum Price Prediction: ETH to Hit $6,000 – Says Trader
According to crypto analyst Kamran Asghar, Ethereum’s recent price action highlights a repeating cycle of sharp downturns followed by explosive rallies.
The chart clearly shows how each phase of what he calls “manipulation” has set the stage for significant upward surges, with gains of 64.72% in July and 37.25% in August.
These patterns suggest that sudden market drops are not mere coincidences but calculated moves designed to shake out weaker hands before the next major rally begins.
What makes this setup particularly compelling is the consistency of the rebounds.
Each time Ethereum price has dipped to a key horizontal support level, it has quickly reversed and launched higher with remarkable momentum.
The latest downturn, once again labeled as manipulation, has positioned Ethereum to break toward the $6,009 target.
If this projection holds, it would represent one of the strongest rallies in the current cycle, reinforcing the idea that market sentiment is being deliberately reset before each leg higher.
In broader terms, this repeating structure indicates that Ethereum is in the hands of larger players who are engineering liquidity traps to accumulate more before the next surge.
15 Whale Wallets Add 406,000 Ether Each
Over the past two days, at least 15 wallets have accumulated more than 406,000 ETH, a purchase valued at roughly $1.6 billion, according to data from Lookonchain.
These wallets sourced their Ethereum from several major platforms, including Kraken, Galaxy Digital, BitGo, and FalconX. The scale of these moves suggests strong institutional involvement rather than scattered retail buying.
This wave of accumulation comes shortly after a major whale shifted billions of dollars out of Bitcoin and into Ethereum earlier this month.
That same whale’s ETH holdings are now reported to exceed $4 billion, underscoring a clear preference for the second-largest cryptocurrency.
The momentum has been building for weeks. Just last month, whales collectively bought more than 260,000 ETH, worth around $1.14 billion during a three-day window from August 24 to August 26.
A closer look at the transfers shows that most of the activity is concentrated in a handful of hot wallets. FalconX, in particular, moved large sums over several consecutive hours, signaling coordinated accumulation.
Among the biggest transfers were 16,769 ETH worth $68.8 million and 22,039 ETH valued at $91.4 million. Several smaller batches of around 13,000 ETH each added up to a sizable share of the day’s total flows.
Kraken also played a key role in the movement. One of its wallets handled a single transfer of 31,117 ETH, worth nearly $125 million.
By contrast, smaller transactions such as 0.005 ETH, roughly $20, were likely just routine network activity.
The difference between the minor movements and the massive block transfers is striking, and it underscores that this was no random trading. Instead, the pattern points to deliberate accumulation by whales and institutional players.
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