The Whale Who Can’t Stop Buying: BitcoinOG Scales | Crypto News
Ethereum is trading with renewed strength after breaking above the $3,300 stage and briefly pushing toward $3,400, signaling a potential shift in short-term momentum. However, despite this recovery, bullish conviction stays fragile. Many analysts continue to warn that the broader pattern still leans bearish, emphasizing that Ethereum has yet to reclaim the structural ranges needed to affirm a macro reversal.
Yet one signal has captured important consideration: according to recent data from Lookonchain, a major whale identified as BitcoinOG has doubled down on his Ethereum long place. This trader is widely acknowledged for being the whale who efficiently shorted Bitcoin during the October 10 market crash, a transfer that earned him substantial income and elevated his popularity across the on-chain analysis group.
Rather than taking income after ETH’s latest pump, he has expanded his long publicity—an unusually aggressive stance at a time when most merchants stay cautious.
His renewed dedication raises questions about whether or not good money is quietly positioning for a bigger upside transfer, even as broader sentiment stays skeptical. If momentum holds, Ethereum could also be making ready for a far more important transfer than the market at present expects.
Whale Positioning and FOMC Impact
According to Lookonchain, the whale identified as BitcoinOG has now expanded his place to 85,001 ETH, valued at roughly $280 million, and is at present sitting on more than $16 million in unrealized revenue. Such an aggressive accumulation during a period of widespread warning indicators a notable divergence between retail sentiment and whale conduct.
When a trader with a confirmed observe report positions this closely on the long facet, it often displays a strategic conviction that market situations might soon shift in favor of greater costs.
However, this positioning unfolds just as the market approaches a pivotal macro event: the FOMC assembly. The Federal Reserve’s choice on rates of interest can dramatically affect liquidity, risk urge for food, and short-term volatility across all risk belongings, including Ethereum.
A fee cut might inject optimism into the market by weakening the US greenback and enhancing total liquidity situations. Conversely, a hawkish tone or a smaller-than-expected coverage adjustment might set off a sell-the-news response, particularly with ETH nearing resistance.
For Ethereum, whale accumulation mixed with macro uncertainty creates a high-stakes setting. If liquidity expands post-FOMC, ETH might gain momentum. If not, even strong whale positions could face short-term strain.
ETH Testing Breakout Strength Ahead of Key Resistance
Ethereum’s 4-hour chart reveals a decisive shift in momentum, with ETH pushing firmly above the $3,300 stage after a clean breakout from its multi-week downtrend. This transfer marks one of the strongest bullish impulses since early November, supported by rising quantity and a clear reclaim of the 50 EMA and 100 EMA.
The 200 EMA (pink), which beforehand acted as dynamic resistance throughout the decline, has now been examined and is starting to flatten—often an early indication that bearish momentum is dropping dominance.
However, ETH is now hovering straight below a crucial resistance zone around $3,380–$3,420, a stage where sellers beforehand stepped in aggressively. The current consolidation just beneath this zone reveals an undecided market: bulls attempt to set up acceptance above $3,300, while bears defend the next resistance layer.
If patrons handle to flip $3,320 into stable assist, the trail toward $3,500 turns into more achievable, particularly if broader market sentiment improves. Conversely, a rejection from the $3,400 space might set off a short-term pullback toward $3,200–$3,250, where shifting averages are now stacked as layered assist.
Featured image from ChatGPT, chart from TradingView.com
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