Whale Buys $153M In Ethereum From Galaxy Digital OTC: Institutions Are Betting Big

Ethereum is trading above $3,800 after a rebound, showing bullish momentum. The cryptocurrency is approaching critical resistance at the $4,000 level. A clean breakout above $4,000 could spark a rally in the altcoin market. Whales have been actively accumulating Ethereum, increasing conviction in its upside. A significant institutional player recently purchased $153 million worth of ETH via Galaxy Digital's OTC desk. This strategic accumulation by institutions highlights growing belief in Ethereum's long-term potential. Ethereum has been consolidating below the resistance level of $3,860.80. Despite short-term volatility, ETH remains above its 50- and 100-period moving averages. Consistent higher lows suggest building buying pressure, supporting a potential breakout. Failure to break resistance may lead to a retest of support levels around $3,700.