Ethereum whale bets $128 million on ETH big pump! Exchange reserves plummet, triggering supply crunch expectations.

As Ethereum (ETH) approaches the $4000 mark, whales and institutional investors are making significant moves. With the exchange's ETH reserves dropping to 19.7 million (a new low since July 7), and the number of deposit addresses decreasing sharply to 16,000 in a single day, the market supply tightening risk is sharply increasing. A net inflow of $4 million in cross-chain funds confirms that capital is gathering towards ETH, and the lack of increased selling pressure after a 54% monthly rise suggests that long positions are in control.

Whale flips long: $128 million giant position bets on ETH breakout

Ethereum Whale activity has significantly recovered in the last 24 hours, releasing a strong bullish signal:

• Aggressive Long Positions: Whale institution Aguila Trade decisively established a long position worth $128 million after closing out ETH short positions with losses exceeding $8 million (data source: HyperDash). As of the time of writing, the position has a floating profit of $630,000, demonstrating confidence in a short-term explosive market.
• Signs of Long-Term Holding: According to monitoring by LookonChain, another Whale Address has withdrawn 13,244 ETH (approximately $49.52 million) from the CEX to a private wallet. Such large withdrawals typically indicate that holders are bullish on the mid to long-term trend and have no intention of short-term selling.

Net inflow of funds on-chain reaches 7 billion USD, cross-chain capital floods into ETH

Spot and on-chain data synchronization verify bullish market sentiment:

• Spot market accumulation: CoinGlass data shows that investors successfully resisted the continuous selling pressure over the past two days, cumulatively transferring over 70 million USD ETH from exchanges to private wallets, demonstrating a strong belief in holding coins.

  

• Ecological Capital Siphon: Artemis has detected that external blockchain funds are continuously flowing into the Ethereum network, with a net inflow of $4 million through cross-chain bridges. Capital is rotating into ETH, reflecting investors' anticipation of a subsequent significant rise.

Exchange reserves have dropped to a critical point, supply tightening is imminent

The available inventory on the ETH exchange shows signs of accelerated depletion:

• Reserve Sharp Decline: The total reserve of ETH on the exchange has fallen to 19.7 million coins, significantly retreating from recent highs and continuing a downward trend.

  

• Deposit Willingness Freezing Point: The current number of ETH deposit Addresses is only 16,000, a new low since July 7. Despite the 54% surge in ETH over the past four weeks, deposit activity has decreased rather than increased, revealing the holders' reluctance to sell.

  

Supply Contraction Logic: Catalyst for Igniting a New Round of Rise If the current trend continues, ETH will face a triple supply-demand imbalance:

1. Exchange liquidity shrinks: The amount of sellable ETH continues to decrease.
2. New selling pressure is limited: The sharp reduction in deposit addresses suppresses short-term supply
3. Demand continues to surge: Whales are opening long positions, cross-chain capital inflows, and spot accumulation are all increasing. In this scenario, the market is very likely to experience a Supply Squeeze due to sudden buying pressure—where demand far exceeds the available sell orders that can be executed immediately, thereby triggering a rapid rise in price.

Conclusion: The momentum for Ethereum to break the $4000 mark is gathering from multiple sources. The establishment of $128 million long positions by whales and the transfer of nearly $50 million to cold wallets highlight the conviction of large capital in a breakout market. On-chain net inflows of $70 million and the support of cross-chain funds further solidify the buying base. Meanwhile, the inventory on exchanges has plummeted to 19.7 million coins and the willingness to deposit is at a freezing point, laying the groundwork for potential supply tightening. Historical experience shows that when the available circulating supply shrinks and meets concentrated buying, it can easily trigger a steep upward curve. Investors need to be wary of the short-covering and FOMO buying resonance that may occur after ETH breaks through $4000.