Whales Continue to Accumulate ETH With Latest $110 Million Purchase, Will ETH See $5,000 ATH Soon?

Whales continue to accumulate ETH with latest $110 million purchase.

Analysts are eager to see the price of ETH reenter its price discovery range

Will the pioneer altcoin ETH see $5,000 ATH soon?

All eyes are on the pioneer altcoin asset, Ethereum (ETH), as the year enters its final quarter, spurring bullish expectations for the ongoing bull cycle’s altseason peak phase to finally arrive. Presently, whales continue to accumulate ETH with latest $110 million worth purchase. With so much bullish sentiments in the present market, analysts believe the price of ETH could go on to hit a new ATH at the $5,000 bull target soon

Whales Continue to Accumulate ETH With Latest $110 Million Purchase

Since the crypto market closed Q3 and the month of September in a bullish green state, the price of the pioneer crypto asset, Bitcoin (BTC) and the price of the pioneer altcoin asset, Ethereum (ETH), have been showing steady signals of entering a more bullish state that could usher in new ATH prices in the following final quarter of the year. Specifically, the price of ETH is expected to pump a lot harder than the price of BTC.

In detail, Bitcoin made history by closing its highest quarterly candle ever, igniting several bullish BTC price pump indicators, and spurring bullish sentiment for new ATH prices in the final quarter of the year. At the moment, a bullish inverse head & shoulder pattern in the BTC price chart has many reputed analysts expecting a rise in BTC price to hit a new ATH price between the $140,000 and $145,000 price range.

Once BTC sets its next ATH, analysts expect the price of Ethereum (ETH) to hit new ATH prices in Q4. Considering that so far this bull cycle, the price of ETH has only hit one new ATH price in the $4,900, just above its previous ATH price set in the $4,800 price range, analysts are keen on seeing the price of ETH reenter the price discovery stage once again and set a string of new ATH prices like BTC did so far.

As we can see from the posts above, ETH whales seem to be having the same bullish pump expectations for the price of ETH, as the majority are continuing to heavily accumulate the pioneer altcoin asset. In detail, one whale alone bought $110 million of ETH, by creating a new wallet after receiving funds from FalconX. Meanwhile, an ETH trader reveals he is selling another 10% to ensure that ETH sees the $5,000 ATH target this cycle

Will ETH See $5,000 ATH Soon?

Additionally, the post above shows even more ETH accumulation action for Ethereum whales. From the images and links in the post above, we see proven on-chain activity from two newly created ETH wallets receiving 51,255 ETH worth $213 million from FalconX in under 10 hours. While some responses believe this is Bitmine accumulating more ETH, others still flag it as bullish whale activity, supporting a heavy ETH price pump prediction