Crypto Whales Accumulate Ethereum and Optimism as Market Bleeds – Is a Reversal Brewing?

While most top cryptocurrencies saw sluggish or declining accumulation, crypto whales are quietly stacking Ethereum (ETH) and Optimism (OP). From April 4 to 6, both assets recorded a noticeable uptick in large wallet holdings—even as the broader market suffered a steep pullback.

This subtle shift suggests that big-money investors might be positioning early for a potential turnaround. With ETH hovering near $1,400 and OP at its lowest point in three years, the coming days could be critical—especially if this whale activity sparks a new wave of bullish momentum.

Ethereum Whales Are Waking Up—Is a Rebound Coming?

While most of the crypto market has been reeling, Ethereum whales have quietly gone into the accumulation phase. Between April 5 and 6, wallets holding 1,000–10,000 ETH grew from 5,340 to 5,388. That may not sound huge—but in whale terms, it’s a strong indication of renewed interest.

Historically, this kind of quiet accumulation often precedes major market moves. These large players tend to buy before momentum shifts, and their confidence might be hinting at a potential trend reversal.

Still, ETH is not out of the woods yet. If the current downtrend continues, a break below $1,400 could bring deeper losses – something we haven’t seen since January 2023.

But here’s the bright spot: If Ethereum can reclaim $1,748 in the coming days, it could spark a move toward $1,938 or even retest that all-important $2,000 mark.

Optimism (OP) Whale Activity Rises Amid Market Downturn, Hinting at Possible Reversal

Despite continued market turbulence, large investors appear to be quietly accumulating Optimism (OP) – a potential sign of growing confidence in the layer-2 scaling solution.

Between April 4 and April 6, the number of wallets holding between 10,000 and 1,000,000 Optimism rose from 4,138 to 4,151, according to on-chain data. This increase in whale addresses suggests that institutional or high-net-worth investors are taking strategic positions while prices remain depressed.

The move comes at a critical moment for Optimism. The token is currently trading near its lowest levels in almost three years, placing it under intense selling pressure. Should the downturn persist, analysts warn that OP could fall below the key support level at $0.50, exposing the asset to further declines.

However, the uptick in whale activity may be an early indicator of a sentiment shift. If OP manages to regain bullish momentum, a rebound toward $0.65 is possible in the near term. A confirmed breakout above that threshold could pave the way for further gains, potentially pushing the token to $0.77 or even $0.84 in an extended rally.

With market volatility still high, investors will be closely watching Optimism’s next move—especially as whale behavior often leads to retail sentiment.