Did You Buy the Dip? Whales Scoop Up $1.37B in Ethereum in 3 Days

Ethereum (ETH) is showing early signs of recovery as large holders continue to accumulate during its recent price decline. For context, the asset fell from a 24-hour high of around $3,900 to a low of $3,097 on Monday.

The accumulation appears to have helped stabilize prices, with the coin now trading around $3,390, a 3% rise in the past 24 hours. Despite this rebound, ETH remains more than 30% below its record high of $4,900 set in August.

Whales Capitalize on Recent Price Dip

On-chain data suggests that whales took advantage of the recent price dip. According to analytics platform Lookonchain, several large Ethereum holders have collectively acquired 394,682 ETH within just three days. The total value of these purchases is estimated at about $1.37 billion.

Whales keep accumulating $ETH — over the past 3 days, many whales have collectively bought 394,682 $ETH($1.37B).https://t.co/RhDYQM0yl6 pic.twitter.com/3qMSojTSTu

— Lookonchain (@lookonchain) November 6, 2025

Among the notable buyers was BitMine, which reportedly bought 40,719 ETH worth roughly $140 million at an average price of $3,430. This move signals confidence from major market participants amid broader market uncertainty.

Another significant purchaser, known as “7 Siblings,” also made substantial acquisitions over the same period. The address accumulated about 37,971 ETH, spending nearly $133.5 million at an average price of $3,515.

ETH Outflows Signal Confidence

The sustained buying activity aligns with ongoing outflows from centralized exchanges. Data from CoinGlass shows that Ethereum’s spot exchange netflow has stayed negative since the start of the week. This indicates that more ETH is being withdrawn to private wallets than deposited.

On November 3, the asset’s netflow reached -$359 million, marking the third-largest single-day outflow since October. The following day, the figure widened to -$479 million before stabilizing around -$70 million as of Thursday.

Such negative netflow is often seen as a bullish signal, suggesting holders are moving assets off exchanges for long-term storage. This pattern typically indicates reduced selling pressure and rising market confidence.

The recent accumulation trend, combined with these outflows, suggests that major players may be positioning for a potential rebound. While short-term volatility remains, the continued whale activity points to growing confidence in Ethereum’s long-term value.

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