- Ethereum whales continue to accumulate aggressively $ETH amid falling prices.
- A drop below $2,000 would be an attractive entry point for bulls.
- Ethereum price reached an intraday low of $1,930 on Wednesday, February 11, 2026.
Ethereum has once again fallen below the $2,000 level, down 3% in the past 24 hours, with the top altcoin hitting a low of $1,930 in early trading on February 11, 2026.
The decline reflects Bitcoin’s retreat below $67,000, with the bellwether digital asset trading around $66,805, down 3% over the same period.
However, despite the widespread bullish sentiment across the crypto market, whales seem undeterred and are taking advantage of this decline to aggressively increase their positions.
Ethereum whale buys push near $2,000
On-chain data shows that Ethereum has attracted active whale accumulation for several months despite the sharp decline in altcoin prices.
According to details shared by CryptoQuant on X, large holders started increasing their positions in July 2025.
This trend is $ETH Amid a bearish reversal in the final quarter of this year, prices plummeted from their peak and inflows into storage addresses hit record highs as buying continued.
Notably, analysts say loading continues even after shipment. $ETH The price fell below the realized value of the accumulation address.
This scenario also played out in April 2025, when Ethereum price plummeted to a low of $1,470 amid a broader market correction.
However, the bulls quickly recovered as the whales bought the dip, and the altcoin price reached an all-time high of nearly $5,000 in August 2025.
Recent data shows foreign exchange balances have fallen to multi-year lows, with whale holdings increasing as retailers sell amid widespread market panic.
This pattern will continue even as prices weaken in early 2026.
With the whales’ purchasing power intact, current levels are attractive, and companies like Bitmine Immersion Technologies are taking full advantage of it.
The company recently added more than 40,600 people $ETH It currently holds over 4.3 million Ether tokens acquired at an average price of $2,125.
Of this, more than $2.97 million is at stake. $ETHaccounting for over 68% of the shares held.
Tom Lee (@fundstrat)’s #Bitmine is still available for purchase $ETH And bet it.
5 hours ago, #Bitmine bet another 140,400 $ETH($282 million).
In total #Bitmine staked 2.97 million $ETH($6 billion), 68.7% of total holdings. https://t.co/yCucFPLdGs pic.twitter.com/R13lzSIQmE
— Lookonchain (@lookonchain) February 11, 2026
Ethereum price prediction
The Cryptocurrency Fear and Greed Index is hovering in extreme fear territory, which means a bearish outlook in the short term.
Ethereum is capitalizing on this sentiment as bulls flounder around $2,000, with the altcoin’s current dollar value down more than 60% since its all-time high near $5,000.
On the technical side, the price is below the key exponential moving average (EMA) and the oscillators are favoring the bears.
Ethereum’s chart formed a death cross in November.
This trend intensified on February 5, 2026, when Bitcoin plummeted to $60,000. $ETH It plunged past the $2,000 support and hit new lows near $1,740.
Despite the rally to above $2,000, downward pressure remains and a fall to year-to-date lows is possible.
When the bears take over even more, $ETH I might target $1,500 to $1,300 next.
Ethereum price chart by TradingView
However, active buying still $ETH A fall below the realized price of an accumulation address indicates a long-term conviction.
Analysts predict a strong recovery, with institutional demand and network growth driving the next step.
On-chain metrics including ETF inflows are key.
In particular, since the monthly outflow of $1.4 billion from the Ethereum Spot ETF in November 2025, outflows have been decreasing, and the total net assets currently exceed $11.7 billion.
Bitmine’s Tom Lee recently stated that he expects a V-shaped recovery for Bitcoin. $ETH.
