Ethereum Whale Wagers $12.6M on Price Surge Amid ETF Delay — ETH to Explode?

3d ago•

bullish:

bearish:

Ethereum is making headlines again, and this time, it’s thanks to a $12.6 million bet placed by a crypto whale — a move that’s stirred bullish whispers across the market. Despite ETH slipping below the $1,600 support line, the aggressive leveraged position suggests big players are bracing for a turnaround. But with the SEC kicking the ETF decision down the road, the question is: is Ethereum on the verge of a rally, or is caution still king?

Ethereum Whale Goes Long as Market Tests Key Support

According to on-chain data shared by Lookonchain, a high-net-worth ETH whale opened a $12.6 million long position at the $1,624 price level using 5x leverage — effectively betting that ETH is set for a rebound. This bold move coincided with ETH dipping to its lowest levels this April, fueling speculation that institutional players are eyeing an accumulation zone.

“The confidence behind this kind of position tells you something,” said crypto trader and analyst Josh Lee. “They’re not gambling — they’re anticipating a reversal, possibly fueled by macro or ETF momentum.”

Ethereum ETF Approval Delayed — Again

Just as anticipation was building for spot Ethereum ETF approvals, the SEC announced a delay in its decision on Grayscale’s ETH Trust and staking features, pushing the review to June 1, 2025. The deferral disappointed many who had hoped for a regulatory green light this month.

While the delay introduces short-term uncertainty, some view it as a strategic pause rather than a rejection. Bloomberg analyst James Seyffart noted,

“The odds still favor approval later this year — especially if staking elements are clarified.”

ETF approval could bring billions in institutional inflows and offer long-term price support.

Ethereum Price Table

Date	Opening Price	Daily High	Daily Low	Closing Price
April 16, 2025	$1,587.39	$1,604.06	$1,559.63	$1,570.34
April 15, 2025	$1,625.32	$1,660.34	$1,584.81	$1,588.80
April 14, 2025	$1,596.46	$1,690.44	$1,596.14	$1,623.73
April 13, 2025	$1,643.09	$1,648.38	$1,566.77	$1,597.77

Source: CoinGecko & Investing.com

On-Chain Metrics and Technical Signals

Technical indicators show a mixed bag. Ethereum’s Stochastic RSI currently hovers near 93, hinting at overbought territory — which can often signal an upcoming pullback. At the same time, the TD Sequential indicator on the weekly chart has flashed a “9”, typically interpreted as a potential trend reversal cue by experienced traders.

Meanwhile, the Crypto Fear and Greed Index stands at 38 (“Fear”), suggesting sentiment remains hesitant despite whale optimism. But history has shown that fear can be fertile ground for accumulation.

Ethereum ETF Ethereum price

ETH’s Broader Use Case Still Strong

Beyond market noise, Ethereum continues to assert itself as a technological backbone — especially in AI and DeFi ecosystems. Former ETH developer Eric Conner recently emphasized, “Smart contracts built on Ethereum offer a framework for verifiable and ethical AI — it’s bigger than just price.”

This reinforces long-term value perception even as short-term price action remains choppy.

Conclusion

Ethereum stands at a pivotal crossroads. A bold whale bet, postponed ETF decision, and technical crossroads have turned ETH into a battleground for bulls and bears. While short-term volatility remains, the underlying fundamentals — growing use cases, institutional interest, and staking expansion — point to a promising Q2.

Whether this is a calm before the storm or the start of a meaningful breakout, one thing is certain: the big players are already moving.