Key Insights:
- BlackRock transferred 72,212 ETH worth $151.4 million to Coinbase Prime, bringing net outflows since October 1 to 791,758 ETH.
- Ethereum whales increased their long positions as the whale-versus-retail delta climbed above 0.3.
- Staked Ethereum whale activity exceeded 630 daily transactions worth over $100,000, reaching its highest sustained level since April.
Ethereum whales have increased their long exposure while transfers from BlackRock-linked wallets continue. Lookonchain reported a 72,212 ETH deposit worth $151.4 million into Coinbase Prime.
Meanwhile, whale positioning and staked Ethereum activity have strengthened despite the recent price decline. Analyst Ted Pillows expects ETH crypto to revisit $2,000 as the cryptocurrency struggles below a key weekly price level.
BlackRock Moves $151.4 Million in ETH to Coinbase Prime
On-chain tracker Lookonchain reported that addresses associated with BlackRock transferred 72,212 ETH into Coinbase Prime on November 10. The four transactions included 39,292 ETH worth $82.44 million, 13,136 ETH worth $27.54 million, 10,000 ETH worth $20.93 million, and 9,784 ETH worth $20.51 million. Arkham tracking data identified Coinbase Prime hot wallets as the destinations.
Lookonchain also reported net outflows of 791,758 ETH, valued at $1.74 billion, from BlackRock-linked addresses since October 1. Those figures describe wallet movements rather than verified net withdrawals from BlackRock’s Ethereum exchange-traded funds.
The transactions came during a period of pressure on Ethereum investment products. U.S. spot Ethereum ETFs recorded $184.51 million in net withdrawals on November 9, according to Ethereum news.
Ethereum Whales Increase Long Positions as Delta Turns Positive
Meanwhile, crypto commentator CW reported that Ethereum whales had shifted toward long positions for the first time since July. The Ethereum Whale vs Retail Delta rose above 0.3, moving into positive territory after spending much of October below zero. The indicator compares whale positioning with activity among smaller traders.
CW said large traders were closing bearish positions and adding long exposure. That shift reflects a change in futures positioning rather than direct purchases of ETH on spot exchanges. A positive delta does not confirm that prices have reached a bottom, and the reported positions may change as market conditions develop.
Staked Ethereum Whale Transactions Exceed 630 Per Day
Additionally, Santiment reported more than 630 daily transactions involving at least $100,000 in Lido staked Ethereum, or stETH. Activity increased over four days and reached its highest sustained level since April 2026.
The transactions indicate that large holders have become more active, although transaction counts alone do not identify purchases or sales.
Santiment reported higher borrowing activity involving stETH as collateral. This arrangement allows holders to borrow other assets without immediately giving up their staked Ethereum exposure. However, borrowed positions carry liquidation risk if collateral values fall and borrowers cannot maintain required coverage.
Ethereum Price Faces $2,000 Retest
Ethereum price traded near $2,060 on the daily chart, below the 20-week Bollinger Band midpoint of $2,240.29. The latest weekly candle had reached $2,083 at its low. ETH crypto had also pulled back after failing to maintain its recovery toward the $2,800 resistance area.
Analyst Ted Pillows said Ethereum price could retest $2,000, describing a further decline of roughly 5% to 6% from the level he observed. The next marked support on the weekly chart sits near $1,965.22, just below that round-number target. A break beneath this area would leave $1,713.44 as another marked support level.
For a recovery, Ethereum would first need to regain the $2,240 region, which previously served as support. The chart places resistance near $2,800.47 and $3,447.44. Until ETH recovers the nearby level, the $2,000 zone remains the focus of the downside scenario.
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and leveraged positions carry substantial risks. Readers should independently evaluate market information before making investment decisions.
Kelvin is an experienced crypto journalist with over 6 years of experience backed by an Actuarial Science and English Degree. He has over 10,000 works published under his profile in several major media sites in the crypto, Web 3, and Finance sectors.
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