OG whale who lost $250M last week is already buying ETH again – Here’s why

Simply 5 days in the past, the market watched as considered one of crypto’s most well-known whales, who as soon as made $190 million shorting the Trump tariff crash, noticed his fortune collapse to simply $53.

An enormous $250 million liquidation on Hyperliquid wiped him out nearly in a single day.

Many thought he was completed. However, no!

OG whale is shopping for ETH once more

The truth is, new on-chain knowledge revealed that the identical dealer is perhaps again at press time, betting huge once more.

The whale has already withdrawn 80,000 Ethereum [ETH] (Value about $168 million) from Binance [BNB], signaling sturdy confidence in Ethereum’s subsequent transfer. This withdrawal, made on 05 February 2026, marks a significant change in technique. As a substitute of utilizing excessive leverage like earlier than, which led to his large loss, the whale is now specializing in spot accumulation.

Merely put, after dropping every part, he’s re-entering the market. This time, with a long-term wager on Ethereum’s restoration.

By eradicating $168 million price of Ethereum from the market, the whale is shrinking the obtainable provide. If others comply with, this might create a provide squeeze and push the altcoin’s worth larger.

Merchants don’t transfer 80,000 ETH to non-public wallets for short-term trades. This could possibly be an indication that the whale believes the $2,000–$2,100 vary could also be a significant market backside.

Indicators of a attainable reversal

On the time of writing, ETH was valued at $2060.87 after a drop of 8.04% within the final 24 hours.

On the technical entrance, whereas MACD pointed to weak spot, the RSI had fallen into oversold territory. Such a discovering is commonly proof of a possible pattern reversal.

Supply: TradingView

Lively addresses have additionally been declining, however that alone isn’t a motive to panic.

Supply: Glassnode

Within the present 2026 market, whale habits, particularly giant withdrawals from exchanges, is a a lot stronger sign of future worth motion than the variety of energetic addresses. Proper now, deal with knowledge is distorted by post-upgrade spam and low-quality transactions, making it much less dependable.

Therefore, Ethereum is caught in a troublesome battle between sellers and patrons now. Companies like Pattern Analysis and Garrett Jin have been pressured to promote giant quantities of ETH, price about $738 million, simply to cowl losses and repay loans.

Moreover, OTC markets revealed that patrons picked up 33,000 ETH in a single day, and DBS-linked wallets added one other 25,000 ETH this week.

All these actions, together with technical indicators, could also be indicative that the market could also be making ready for a reversal.

Remaining Ideas

• Giant non-public pockets transfers counsel that main gamers see the $2,000–$2,100 vary as a possible long-term backside.
• Whale actions are at the moment extra dependable indicators of market sentiment than short-term community exercise.