Key takeaways:
- On June 15, Ethereum whales accumulated more than 818,000 ETH—worth approximately $2.5 billion—their largest single-day purchase since 2018.
- ETH is currently trading within a multi-month consolidation range, resembling the price behavior seen before its 2017 breakout.
- Analysts are eyeing a short-term price target of $4,000 for Ethereum, with some projecting a potential surge to $10,000.
One of Ethereum’s wealthiest investor groups is accumulating Ether at the fastest rate since 2018, reinforcing expectations for further upward momentum in the cryptocurrency’s price.
Ethereum Whales Scoop Up Over $2.15 Billion Worth of ETH
As of June 15, Ethereum wallets holding between 1,000 and 10,000 ETH saw a net position increase of over 818,410 ETH—worth approximately $2.5 billion—marking the largest single-day inflow for this group in over six years.
On June 15, wallets typically linked to funds, early adopters, and whales collectively held over 16 million ETH—up from 11.87 million ETH nearly a year ago.
This spike in accumulation aligns with rising institutional interest in Ether, reflected in strong inflows into ETH-focused investment products.
According to CoinShares’ weekly report, these funds drew in $583 million in the week ending June 13, bringing total net inflows for the year to $2.28 billion.
Ethereum Following 2017 Price Pattern, Says Analyst
Ether has climbed 90% over the past two months, fueled by optimism surrounding the upcoming Pectra upgrade and a major restructuring of the Ethereum Foundation’s core team. Despite the rally, ETH remains confined within a multi-month consolidation range.
According to analyst Milkybull Crypto, this price behavior echoes the pattern that preceded Ethereum’s explosive 10x rally in 2017.
Back in 2016–2017, following the DAO hack and the Ethereum Classic split, ETH traded sideways between $10 and $20. Although market sentiment was weak at the time, the breakout from that range triggered a sharp rally, propelling ETH above $1,500 within a year, driven by the ICO boom.
Between 2024 and 2025, Ethereum is once again in a consolidation phase—this time within a range defined by $2,150 to $3,600—while maintaining support above its 50-week (red) and 200-week (blue) exponential moving averages (EMAs).
Although the catalysts differ—this cycle driven by ETFs, staking, and asset tokenization—the technical setup mirrors previous breakout patterns, with ETH coiling just beneath key resistance.
This positions Ethereum’s short-term price target near $4,000, in line with the upper boundary of the consolidation channel—a level echoed by several market analysts.
Milkybull Crypto remains bullish, reiterating in May that a $10,000 ETH price “cannot be ruled out.”
