Smart Money Whale Accumulates ETH and BTC Amid Market Volatility

In a bold move that has captured the attention of cryptocurrency traders worldwide, a prominent 'smart money' whale, previously known for netting an impressive 99.22 million USD in profits from ETH wave trading, has once again demonstrated confidence in the market by investing a staggering 85.91 million USD into ETH and BTC. According to on-chain data shared by analyst @ai_9684xtpa on February 2, 2026, this entity withdrew 20,392 ETH from various exchanges over the past 9 hours, valued at 47.17 million USD with an average acquisition price of $2,313.35 per ETH. This accumulation spree didn't stop there; in the last 2 hours, the whale made its first foray into cbBTC, purchasing 500 tokens worth 38.74 million USD at an average price of $77,484.46. Such large-scale buying activity often signals strong bullish sentiment among institutional players, potentially influencing ETH price movements and BTC trading volumes in the short term. Traders should monitor key support levels around $2,300 for ETH, as this could act as a psychological barrier amid ongoing market fluctuations.

Delving deeper into the whale's strategy, this isn't an isolated incident. Just 9 hours prior, the same address deposited 24.94 million USDC to Wintermute and received 10,000 ETH, suspected to be an over-the-counter (OTC) purchase at a cost of $2,416.21 per ETH. Over the past two days, this smart money player has amassed a total of 30,000 ETH, amounting to 80.56 million USD with an average cost of approximately $2,685.35. This pattern of consistent accumulation highlights a calculated approach to bottom-fishing during dips, which could correlate with broader market recoveries. From a trading perspective, on-chain metrics reveal increased withdrawal volumes from exchanges, suggesting reduced selling pressure and potential for upward momentum. For BTC, the cbBTC purchase aligns with rising interest in wrapped Bitcoin assets, which might boost liquidity in DeFi protocols and influence BTC/USD trading pairs. Savvy traders could look for entry points if BTC holds above $77,000, watching for resistance at $80,000 based on recent historical data.

Implications for Crypto Market Sentiment and Trading Opportunities

The actions of this whale underscore a growing trend of institutional accumulation in cryptocurrencies, particularly ETH and BTC, which could drive positive market sentiment. With ETH's average purchase price at $2,313.35 and BTC's at $77,484.46 during these transactions, analysts might interpret this as a vote of confidence in Ethereum's upcoming upgrades and Bitcoin's role as digital gold. Trading volumes for ETH have shown spikes following such whale activities, often leading to short-term rallies. For instance, if we consider the 24-hour trading volume across major pairs like ETH/USDT and BTC/USDT, this influx could catalyze increased volatility, offering scalping opportunities for day traders. Moreover, correlations with stock markets, such as tech-heavy indices like the Nasdaq, might amplify these effects, as AI-driven analytics point to intertwined movements between crypto and traditional assets. Institutional flows, evidenced by this whale's moves, suggest a hedge against inflation or geopolitical uncertainties, potentially attracting more capital into the space.

To capitalize on these developments, traders should focus on technical indicators such as the Relative Strength Index (RSI) for ETH, which may hover near oversold levels post-dip, signaling a rebound. Support at $2,200 and resistance at $2,500 could define the next trading range for ETH, while BTC might test $78,000 as a breakout point. On-chain data from sources like Arkham Intelligence, tracking wallet addresses such as 0xFB78AA8F38843629e89951D9db6FdC398d75e0A3 and 0xd4584Bf988C9E8994688b56484E2F74cEAEeFB20, provides verifiable insights into these transactions. This whale's history of profitable ETH trades—yielding 99.22 million USD—adds credibility to their market timing. In a broader context, if similar patterns emerge from other smart money entities, it could lead to a sustained uptrend, benefiting long positions in ETH and BTC futures. However, risks remain, including sudden liquidations or regulatory news, so position sizing and stop-loss orders are crucial for risk management.

Overall, this whale's aggressive buying reinforces the narrative of crypto as a maturing asset class, with opportunities for both spot and derivatives trading. As market participants digest this news, keeping an eye on real-time volumes and price action will be key to identifying profitable setups. Whether you're a swing trader eyeing ETH's wave patterns or a hodler accumulating BTC, these moves highlight the importance of monitoring whale activities for informed decision-making in the volatile crypto landscape.