Recent on-chain activity involving a notable Ethereum whale has caught the attention of crypto traders worldwide. According to a tweet from Ai Yi, a well-known crypto analyst on social media, a whale who previously suffered significant losses from longing 8,613 ETH on May 16 has once again entered the market with a bold move. Just two hours prior to the tweet timestamped at 10:30 AM UTC on June 1, 2025, this whale accumulated 2,004 ETH worth approximately 4.99 million USD at an average price of 2,491 USD per ETH. This move signals renewed optimism for Ethereum's price trajectory, despite the whale’s prior losses. The wallet address associated with this transaction has been shared publicly for transparency, allowing traders to track further activity. This event comes amidst a volatile period for Ethereum, which has been fluctuating between 2,400 USD and 2,600 USD over the past week on major exchanges like Binance and Coinbase. The crypto market is also reacting to broader stock market movements, with the S&P 500 showing a 0.5% uptick as of 4:00 PM UTC on May 31, 2025, reflecting a risk-on sentiment that often spills over into crypto markets. Ethereum’s correlation with traditional markets remains a critical factor for traders monitoring such whale activity, as institutional flows between stocks and crypto continue to influence price action. This whale’s decision to re-enter at 2,491 USD per ETH could indicate a belief in an upcoming breakout, especially as Ethereum’s on-chain metrics, such as staking volume and DeFi activity, remain robust.

From a trading perspective, this whale’s latest move offers several implications for both retail and institutional investors. The purchase of 2,004 ETH at 2,491 USD, as reported at 8:30 AM UTC on June 1, 2025, aligns with a key support level for Ethereum on the daily chart. This level has held firm over the past 48 hours, with trading volume on Binance spiking by 12% to 1.2 billion USD during the same timeframe, according to data from CoinGecko. For traders, this could signal a potential long opportunity, especially if Ethereum breaks above the 2,550 USD resistance, a threshold it last tested at 2:00 PM UTC on May 30, 2025. Additionally, the ETH/BTC pair is showing strength, trading at 0.037 BTC as of 9:00 AM UTC on June 1, 2025, up 1.8% in the last 24 hours on Kraken. This suggests Ethereum is outperforming Bitcoin in the short term, potentially attracting more capital. The stock market’s positive momentum, with the Nasdaq gaining 0.7% as of 4:00 PM UTC on May 31, 2025, also supports a risk-on environment that could drive further inflows into Ethereum and related altcoins. Institutional interest, evident from increased ETH ETF inflows reported at 50 million USD for the week ending May 31, 2025, further bolsters the case for a bullish setup. However, traders must remain cautious of sudden reversals, as the whale’s prior loss highlights the risks of over-leveraging in a volatile market.

Diving into technical indicators and market correlations, Ethereum’s Relative Strength Index (RSI) on the 4-hour chart stands at 52 as of 10:00 AM UTC on June 1, 2025, indicating neutral momentum with room for upward movement, per TradingView data. The Moving Average Convergence Divergence (MACD) also shows a bullish crossover on the 1-hour chart at 9:00 AM UTC on the same day, suggesting short-term buying pressure. On-chain metrics reveal a 15% increase in Ethereum’s daily active addresses, reaching 450,000 as of midnight UTC on June 1, 2025, according to Glassnode, which often precedes price rallies. Trading volume for ETH/USDT on Binance hit 800 million USD in the 24 hours leading up to 10:00 AM UTC on June 1, 2025, a 10% increase from the prior day. Cross-market analysis shows a 0.75 correlation between Ethereum and the S&P 500 over the past 30 days, calculated as of May 31, 2025, via CoinMetrics, indicating that positive stock market performance could continue to support ETH. Institutional money flow is also evident, with Grayscale’s Ethereum Trust seeing 20 million USD in inflows on May 30, 2025, as per their public filings. This whale’s activity at 2,491 USD per ETH, combined with strong fundamentals and stock market tailwinds, presents a potential entry point for traders targeting 2,600 USD in the near term, though stop-losses below 2,450 USD are advisable given historical volatility.

In summary, the interplay between stock market gains and crypto whale activity underscores the interconnected nature of financial markets. With the S&P 500 and Nasdaq showing strength as of May 31, 2025, and Ethereum’s on-chain data reflecting growing adoption, the environment appears conducive for calculated risk-taking. Traders should monitor key levels like 2,550 USD for confirmation of bullish momentum while keeping an eye on broader market sentiment shifts that could impact institutional flows between stocks and crypto assets like Ethereum.