Ethereum Builds Momentum as Whale Activity Surpasses Bitcoin

Ethereum is showing steady momentum like Bitcoin did in 2020, with strong whale interest and a bullish ascending price channel forming.

While Bitcoin sees a slowdown in big investor activity, Ethereum is gaining serious attention from institutions and large-scale buyers.

Ethereum’s price structure and growing whale wallets hint at long-term growth fueled by rising use in DeFi and real-world blockchain utility.

Ethereum is showing signs of a massive rally, echoing Bitcoin’s historic 2020 breakout. Technical indicators now mirror conditions that triggered Bitcoin’s 5x price surge. Ethereum is currently trading near $2,972, forming an ascending channel

Meanwhile, Bitcoin’s parabolic rise in 2021 from $10,000 to nearly $70,000 has entered a new phase. Bitcoin now trades around $119,000, having formed support above previous highs.

Source: Merlijn The Trader

The two top cryptocurrencies are taking distinctly different paths. Ethereum’s structure signals sustainable growth, while Bitcoin hints at price maturity. Recent charts show Ethereum following a bullish ascending channel

In contrast, Bitcoin’s price has broken a descending trendline that dated back to early 2021. Besides, Ethereum’s Relative Strength Index (RSI) is gaining strength. It shows building momentum marked by trend reversal signals. Bitcoin’s RSI, however, is recovering from previous oversold levels.

Whale Wallet Data Reveals Institutional Preferences

Data from Santiment supports this divergence in technical structure. Over the last two weeks, Ethereum whale wallets grew by 8%. That’s 90 new addresses holding 10,000 ETH or more

Source: Santiment

This surge points to increased institutional interest in Ethereum’s long-term prospects. Meanwhile, Bitcoin saw a 1.61% drop in whale wallets holding 1,000 BTC or more. That’s a reduction of 34 wallets. This trend suggests possible profit-taking by large holders.

Moreover, utility increase supports Ethereum's accumulation. Ethereum-based applications and decentralized finance (DeFi) are still attracting investment. Whale participation in Bitcoin may have decreased as a result of hedging or portfolio rebalancing.

Additionally, Ethereum’s consistent whale wallet growth is marked by a steady upward curve. On the other hand, Bitcoin’s trendline shows gradual decline, reflecting reduced large-scale inflows.

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