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Can Whales Send ETH to $3,000?

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Since July, crypto whales have distributed Ethereum (ETH) in large volumes. This selling pressure affected the price, which cratered from over $3,500 at that time to $2,140 in the first week of September.

However, these same whales seem to have offered ETH a breath of fresh air with large-scale accumulation. In this on-chain analysis, BeInCrypto explores what this could mean for investors as the market adjusts to a more bullish environment.

Ethereum Stakeholders Bought 70,000 Coins

According to Glassnode, the number of Ethereum addresses holding at least 10,000 ETH was 918 on September 16. As of this writing, that figure has increased to 925, indicating that Ethereum mega whales have accumulated at least 70,000 coins in the last seven days. At current prices, the purchase amounts to over $185 million.

A decrease in whale holdings is typically a bearish sign for a cryptocurrency, and it usually leads to a price decrease. Therefore, this significant accumulation suggests that Ethereum’s price might continue to appreciate.

Recently, the price increased from $2,295 to $2,640, fueling speculation that the cryptocurrency could be eyeing July highs.

Read more: Ethereum Restaking: What Is it and How Does it Work?

Ethereum whales buy ETH
Ethereum Mega Whales Addresses. Source: Glassnode

While it might be too soon to conclude, the Bulls and Bears indicators seem to support a further hike. Bulls are addresses that bought at least 1% of the total trading period within a specific timeframe. Bears, on the other hand, are those that sold a similar volume.

According to IntoTheBlock, bulls have accumulated more ETH than bears in the last seven days. As such, rather than succumb to a price plunge, Ethereum’s price might continue its recently-found rally.

Ethereum bullish price prediction
Ethereum Bulls and Bears Indicator. Source: IntoTheBlock

Roy Hui, Founder & CEO of Ethereum Layer-2 blockchain LightLink Chain, also seems to agree with the sentiment.

“Despite the challenges, ETH still boasts the largest number of developers, projects, users, and overall adoption in the space. The network effect where the value of a network increases with the square of its nodes is critical, and I believe ETH is currently undervalued,” Hui told BeInCrypto.

ETH Price Prediction: Time for $3,037

In terms of Ethereum’s short-term outlook, the In/Out of Money Around Price (IOMAP) shows that 2.7 million addresses purchased 52 million ETH around $2,279. This volume is higher than the combined number of coins accumulated between $2,717 and $3,037.

Generally, the higher the volume at a price range, the stronger the support or resistance. Therefore, $2,279 appears to be a strong support level for Ethereum.

Read more: How To Buy Ethereum (ETH) With a Credit Card: Complete Guide

Ethereum price targets $3,000
Ethereum In/Out of Money Around Price. Source: IntoTheBlock

Based on this status, ETH’s price might break past $2,717 once buying pressure intensifies again. If that happens, a rally beyond $3,037 could follow.

However, if Ethereum mega whales decide to stay on the sidelines or the Ethereum Foundation begins distributing, the prediction might be invalidated, and ETH’s price could decline below $2,500.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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XRP Price Vulnerable To Falling Below $2 After 18% Decline

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XRP has faced a significant correction in recent weeks, resulting in an 18% decline in the altcoin’s price. As a result, XRP is currently struggling to maintain upward momentum, with investors losing confidence. 

This recent slump has raised concerns about the asset’s future, especially as certain XRP holders begin to sell their positions, increasing bearish pressure.

XRP Investors Are Pulling Back

The recent downturn in XRP’s price has triggered a sharp spike in the “Age Consumed” metric. This indicator tracks the movement of coins from long-term holders (LTHs) and has reached its highest level in over four months. The increase suggests that LTHs, who have been holding XRP for extended periods, are now losing patience. 

This selling behavior may be driven by the lack of price recovery and the overall weak market conditions that have not improved. These holders appear to be attempting to limit their losses by liquidating their positions, which in turn increases the downward pressure on XRP’s price. This mass selling from LTHs further compounds the challenges for XRP, as their decision to sell is often seen as a sign of waning confidence in the cryptocurrency. 

XRP Age Consumed
XRP Age Consumed. Source: Santiment

XRP’s market momentum appears to be weakening, as evidenced by the recent decline in the number of new addresses. The metric tracking new addresses has fallen to a five-month low, suggesting that XRP is struggling to attract new investors. This lack of fresh interest signals growing skepticism within the broader market, with potential investors hesitant to buy into an asset that has failed to deliver strong price action.

The drop in new addresses reflects a broader trend of reduced market traction and the lack of conviction from buyers. When combined with the selling pressure from LTHs, it creates a challenging environment for XRP to regain bullish momentum

XRP New Addresses
XRP New Addresses. Source Glassnode

XRP Price Needs A Boost

XRP’s price is currently holding at $2.06, just above the key support level of $2.02. If it manages to stabilize and break through the immediate resistance at $2.14, there could be a potential rebound, taking XRP higher.

However, with the continued weakness in market sentiment and the aforementioned bearish cues, XRP remains vulnerable to further declines. If the support of $2.02 fails, the price could drop further to $1.94, extending the 18% decline noted in the last two weeks.

XRP Price Analysis
XRP Price Analysis. Source: TradingView

If XRP manages to reclaim the $2.14 level and holds above it, the price could make its way toward $2.27. Breaching this level would invalidate the bearish outlook, signaling a potential recovery and restoring investor confidence in the cryptocurrency.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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HBAR Futures Traders Lead the Charge as Buying Pressure Grows

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Hedera Foundation’s recent move to partner with Zoopto for a late-stage bid to acquire TikTok has sparked renewed investor interest in HBAR, driving a fresh wave of demand for the altcoin.

Market participants have grown increasingly bullish, with a notable uptick in long positions signaling growing confidence in HBAR’s future price performance.

HBAR’s Futures Market Sees Bullish Spike

HBAR’s long/short ratio currently sits at a monthly high of 1.08. Over the past 24 hours, its value has climbed by 17%, reflecting the surge in demand for long positions among derivatives traders. 

HBAR Long/Short Ratio
HBAR Long/Short Ratio. Source: Coinglass

An asset’s long/short ratio compares the proportion of its long positions (bets on price increases) to short ones (bets on price declines) in the market. 

When the long/short ratio is above one like this, more traders are holding long positions than short ones, indicating bullish market sentiment. This suggests that HBAR investors expect the asset’s price to rise, a trend that could drive buying activity and cause HBAR’s price to extend its rally. 

Further, the token’s Balance of Power (BoP) confirms this bullish outlook. At press time, this bullish indicator, which measures buying and selling pressure, is above zero at 0.25. 

HBAR BoP.
HBAR BoP. Source: TradingView

When an asset’s BoP is above zero, buying pressure is stronger than selling pressure, suggesting bullish momentum. This means HBAR buyers dominate price action, and are pushing its value higher. 

HBAR Buyers Push Back After Hitting Multi-Month Low

During Thursday’s trading session, HBAR traded briefly at a four-month low of $0.153. However, with strengthening buying pressure, the altcoin appears to be correcting this downward trend. 

If HBAR buyers consolidate their control, the token could flip the resistance at $0.169 into a support floor and climb toward $0.247.

HBAR Price Analysis
HBAR Price Analysis. Source: TradingView

However, a resurgence in profit-taking activity will invalidate this bullish projection. HBAR could resume its decline and fall to $0.129 in that scenario.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Bitcoin is Far From a Bear Market But not Altcoins, Analysts Claim

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Welcome to the US Morning Crypto Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee to see how Bitcoin is holding firm above $79,000 despite a sharp equities sell-off. Markets are bracing for the March NFP report and rising recession risks. With Fed rate cuts on the table and ETF inflows staying strong, all eyes are on what’s next for macro and crypto markets.

Is Bitcoin in a Bear Market?

The highly anticipated March U.S. non-farm payrolls (NFP) report is due later today, and it’s expected to play a key role in shaping market sentiment heading into the weekend.

“With the key macro risk event now behind us, attention turns to tonight’s non-farm payroll report. Investors are bracing for signs of softness in the U.S. labour market. A weaker-than-expected print would bolster the case for further Fed rate cuts this year, as policymakers attempt to cushion a decelerating economy. At the time of writing, markets are pricing in four rate cuts in 2025—0.25 bps each in June, July, September and December,” QCP Capital analysts said.

Traditional markets are increasingly pricing in a recession, with equities retreating sharply—a 7% decline overall, including a 5% drop just yesterday. This broad de-risking environment helps explain the current pause in crypto inflows.

On the derivatives front, QCP adds:

“On the options front, the desk continues to observe elevated volatility in the short term, with more buyers of downside protection. This skew underscores the prevailing mood – uncertain and cautious.”

However, they also note that “with positioning now light and risk assets largely oversold, the stage may be set for a near-term bounce.”

Bitcoin remains resilient despite market volatility, holding above $79,000 with strong ETF inflows and signs of decoupling from stocks and altcoins. According to Nic Puckrin, crypto analyst, investor, and founder of The Coin Bureau: “Bitcoin is nowhere near a bear market at this stage. The future of many altcoins, however, is more questionable.”

Chart of the Day

Changes of a US Recession in 2025.
Changes of a US Recession in 2025. Source: Polymarket.

Chances of a US Recession in 2025 jumped above 50% for the first time, currently at 53%.

Byte-Sized Alpha

Major ETF issuers are buying Bitcoin, with $220 million in inflows showing strong confidence despite volatility.

Futures show bullish BTC sentiment, but options traders remain cautious, signaling mixed market outlook.

Coinbase is launching XRP futures after Illinois lawsuit relief, signaling growing regulatory support for crypto.

– Despite Trump’s tariff-driven crash, analysts see potential for a Bitcoin rebound—though inflation may cap gains.

– The Anti-CBDC bill passed a key House vote, aiming to block Fed-issued digital currencies and protect privacy.

– Today at 11:25 AM, Fed Chair Jerome Powell will deliver a speech on the U.S. economic outlook.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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