The cryptocurrency market has been abuzz with unusual activity involving the Bitrue hacker, who appears to be making strategic moves with Ethereum (ETH). According to data shared by Lookonchain on June 12, 2025, the hacker, linked to a previous exploit on the Bitrue exchange, initially sold 4,207 ETH for 16.34 million DAI at a price of $3,885 per ETH on March 10, 2024. This transaction netted a significant stablecoin reserve during a period when ETH was trading near its yearly highs. Fast forward to recent developments, and the hacker has now pivoted to buying back ETH at a notably lower price. As of the latest update on June 12, 2025, the hacker has spent 8.3 million DAI to acquire 2,999 ETH at an average price of $2,769 per ETH. This calculated move suggests an attempt to capitalize on a price dip, potentially aiming for profit if ETH rebounds. For crypto traders, this event highlights the importance of monitoring on-chain activities and whale movements, as they can signal potential market shifts. The timing of these transactions also coincides with broader market volatility, where ETH has seen fluctuating prices against major pairs like ETH/BTC and ETH/USDT on exchanges such as Binance and Coinbase. This hacker’s activity, while illicit in origin, provides a real-time case study of market timing and liquidity deployment, offering insights into how large players can influence price action. For those searching for Ethereum price analysis or whale trading strategies, this event underscores the need to track on-chain metrics for actionable trading signals.

From a trading perspective, the Bitrue hacker’s actions have significant implications for ETH price dynamics and market sentiment. The initial sale of 4,207 ETH on March 10, 2024, at $3,885 likely contributed to downward pressure on ETH at that time, as large sell-offs often trigger bearish sentiment among retail traders. Conversely, the recent buyback of 2,999 ETH at $2,769, reported on June 12, 2025, could act as a bullish signal, indicating confidence in a potential price recovery. For traders, this creates opportunities to position themselves alongside such whale activity, particularly in ETH/USDT and ETH/BTC pairs. On-chain data suggests that trading volume for ETH spiked by approximately 15% on major exchanges like Binance around June 12, 2025, correlating with the hacker’s buy orders. Additionally, this activity may influence liquidity in stablecoin pairs like DAI/ETH, as the hacker still holds a substantial 8.04 million DAI, potentially for further purchases. Traders should also consider the broader market context, where Ethereum’s correlation with Bitcoin remains high at 0.85 as of June 12, 2025, meaning BTC price movements could amplify or dampen ETH’s reaction to this whale activity. For those exploring Ethereum trading strategies or whale movement impacts, setting tight stop-losses near $2,700 and targeting resistance at $3,000 could be a viable short-term play, provided volume sustains.

Diving into technical indicators and market correlations, ETH’s price action around $2,769 on June 12, 2025, aligns with a key support level on the daily chart, as observed on TradingView data. The Relative Strength Index (RSI) for ETH/USDT sat at 42 at 14:00 UTC on June 12, 2025, indicating neither overbought nor oversold conditions but a potential for upward momentum if buying volume increases. The 50-day moving average, hovering near $2,850 as of the same timestamp, acts as the next resistance to watch. On-chain metrics from platforms like Glassnode reveal that ETH transaction volume peaked at over 1.2 million transactions on June 12, 2025, a 10% increase from the prior week, likely driven by whale activity including the Bitrue hacker’s trades. In terms of cross-market correlation, Ethereum’s price movement shows a moderate link with stock market indices like the S&P 500, with a correlation coefficient of 0.6 as of June 12, 2025. This suggests that broader risk-on sentiment in equities could support ETH’s recovery if institutional money flows back into risk assets. Speaking of institutional impact, recent filings indicate that crypto-related ETFs, such as the Grayscale Ethereum Trust, saw inflows of $12 million on June 11, 2025, per Grayscale’s public reports, hinting at growing interest that could align with whale buying. For traders monitoring Ethereum technical analysis or crypto-stock correlations, combining on-chain data with traditional indicators offers a comprehensive view. The hacker’s activity, while a small fraction of total ETH volume, serves as a reminder of how targeted trades can influence short-term sentiment and create trading opportunities for agile market participants.

In summary, the Bitrue hacker’s strategic selling and buying of ETH, with precise transactions on March 10, 2024, and June 12, 2025, provide a unique lens into whale behavior and its market impact. Traders can leverage this by focusing on ETH price levels between $2,700 and $3,000, monitoring volume spikes, and aligning strategies with broader stock market sentiment. As institutional interest in crypto ETFs grows, the interplay between traditional finance and crypto markets becomes increasingly relevant, offering cross-market trading opportunities for those prepared to act on real-time data.