ETH Whales Rebuild as Outflows Trim Exchange Supply, Price Retests $4K

Santiment shows wallets holding 100 to 10,000 ETH re-accumulated roughly 218,470 ETH over the past week. That buying offsets a slice of the ~1.36 million ETH these cohorts sold between October 5 and 16.

Whales Reverse Course and Add 218K ETH After Mid-October Selling

The flip from distribution to accumulation restores part of the liquidity removed earlier in the month and sets a more constructive backdrop if demand persists.

The add-back equals about one-sixth of what was sold, a cadence often seen during range repair after sharp pullbacks. The shift lines up with steady staking participation and consistent dApp activity, factors that help anchor ETH fundamentals while price compresses.

Related: Ethereum Price Prediction: ETH Tests Recovery as Liquidity Clusters Build Above $4,200

Exchange Outflows Point to Self-Custody and Longer Holds

Additional data from CoinGlass gives further insight into investor behavior. The ETH Spot Inflow/Outflow chart recorded heightened movement throughout mid-October, with alternating waves of deposits and withdrawals reflecting a tug-of-war between short-term traders and accumulating investors.

Notably, outflow spikes, indicating transfers from exchanges to private wallets, have increased in recent weeks, aligning with Santiment’s findings on accumulation.

Ethereum’s price trend has remained resilient through these shifts. The asset’s value climbed from under $2,000 in early 2025 to above $3,900 in October, despite intermittent declines linked to macroeconomic uncertainty and profit-taking cycles.

ETH Price Shows Consolidation Near $3,900 With Softer Turnover

As of press time, Ethereum (ETH) traded at $3,928.43, down 0.38% in 24 hours, according to CoinMarketCap. Its market capitalization stood at $474.15 billion, supported by a circulating supply of 120.69 million ETH. Trading volume fell by 19.44% to $29.29 billion, suggesting reduced short-term activity after a volatile week.

The asset reached a session high of nearly $3,981 before dipping around 6:00 p.m. and stabilizing at around $3,900 overnight.

Related: Uptober Rally: Ethereum Eyes $4,505 Breakout, XRP Whales Accumulate 250M Tokens