Article: Behavior of ETH and BTC Whales on May 26, 2025
On May 26, 2025, the cryptocurrency market, and particularly the behavior of Bitcoin (BTC) and Ethereum (ETH) whales, presented a series of interesting movements that reflected both caution and opportunity. Although volatility is a constant, the transactions of large holders offered clues about market sentiment on this day.
Bitcoin (BTC): Consolidation and Long-Term Accumulation
For Bitcoin, May 26, 2025, was a day when Long-Term Holders (LTHs) showed remarkable confidence. There was a massive accumulation of approximately 300,000 BTC, totaling around $32.917 billion, by these holders. This behavior is particularly significant because it occurred even as BTC was climbing towards its previous peaks, indicating that, instead of taking profits, whales are doubling down on their holdings. LTH spending activity fell to its lowest level in eight months, suggesting a firm «holding» stance and an expectation of a potential rally in 2025 towards $200,000.
On the other hand, Bitcoin flows from whales to Binance decreased by 50% in the last 30 days, reaching the lowest level since November 2024. This reduction in exchange inflows, if sustained, could provide a stronger foundation for Bitcoin above $100,000. However, a whale trader known as «moonpig» caused a stir by placing a massive $1 billion «short» bet on Bitcoin, which generated an estimated $3 million in profit and attracted significant attention to the decentralized derivatives platform Hyperliquid. This type of high-risk move by individual whales highlights the continued volatility and the impact a single actor can have on market sentiment.
Overall sentiment for BTC remained optimistic, with the price looking for a «trigger» to reach $155,000. Funding rates on derivatives platforms remained relatively neutral, suggesting calm sentiment despite recent all-time highs.
Ethereum (ETH): Mixed Signals and Institutional Accumulation
The behavior of Ethereum whales on May 26, 2025, presented a mixed picture, but with a general inclination towards accumulation by large investors.
On one hand, a massive purchase of $75.39 million in ETH by a whale, who had already gained $1.52 million in unrealized profits, was reported. This investor has a history of successful operations, which reinforces confidence in Ethereum’s market trajectory and attracts the attention of other investors.
However, there were also significant selling signals. An «old» whale who had been inactive for 8 years transferred 1,764 ETH (approximately $4.4 million) directly to Kraken, which was interpreted as massive profit-taking with an 838% gain. Additionally, a massive deposit of 5,000 ETH (approximately $1.276 million) by a «super institution» was recorded on Binance. These movements triggered an «apocalypse alert» in some circles, suggesting potential selling pressure.
Despite these sales, on-chain data showed a steady increase in ETH supply held by whales, who now own 103.5 million ETH, an almost 1.5% increase since March 1. This indicates growing accumulation by large holders, which is a bullish indicator. Whale activity and chart patterns aligned, suggesting that Ethereum might be close to a bullish breakout. The total value locked (TVL) in the Ethereum ecosystem also increased by 26% in the last 30 days, exceeding $132 billion, reinforcing the network’s fundamental health.
In summary, on May 26, 2025, Bitcoin whales demonstrated strong long-term conviction through accumulation, while Ethereum whales showed a more mixed pattern, with some profit-taking but underlying institutional accumulation suggesting a bullish sentiment for the near future.