$73 Million Ethereum In One Day, What Happened?

A major Ethereum whale has made headlines after investing $73 million into ETH, defying the ongoing market downturn.

According to blockchain data provided by Lookonchain, wallet address 0xd8d0, which previously profited over $30 million from Ethereum, has once again entered the market, acquiring 30,000 ETH during the recent price dip.

Since June 11, the whale has spent approximately 295 million USDC to accumulate a total of 115,465 ETH at an average price of $2,555. However, with Ethereum currently trading at $2,444.91 (a 4.14% decline in the past 24 hours), the whale is temporarily down around $15 million.

Ethereum ETFs see outflows

While whales are buying the dip, Ethereum ETFs are showing signs of strain. On June 20, Ethereum exchange-traded funds recorded $11 million in net outflows, marking the second such event this month, according to data from Farside. Earlier, on June 13, Ethereum ETFs also experienced $3 million in outflows.

This contrasts sharply with recent bullish behavior from institutional investors, particularly BlackRock. On June 12, the asset management giant added over $160 million worth of ETH to its holdings, marking the largest daily ETF inflow since February 5, 2025, when it purchased $274 million in Ethereum.

Despite this, BlackRock’s Ethereum ETF (ETHA) just saw its first outflow since May 7 (over $19 million) after selling 8,140 ETH. The fund’s total ETH holding remains substantial at 1.677 million ETH, indicating continued long-term confidence despite short-term repositioning.

Ethereum Golden Cross confirmed?

Technically, Ethereum’s price action is showing promising signs. ETH has recently bounced from the $2,450–$2,475 range—a critical confluence zone where the 50-day and 200-day moving averages intersect.

This crossover has triggered what traders recognize as a “Golden Cross,” a bullish signal that typically indicates a shift in long-term momentum. Following this setup, Ethereum briefly surged above $2,540, signaling renewed buyer interest and increasing confidence among market participants.

In summary, while ETF outflows and price volatility suggest caution, whale activity and technical indicators like the Golden Cross are aligning to support a potential bullish phase for Ethereum.