ETH Whales Buy the Dip as Ethereum Revisits $3K: Where Are Prices Headed?

• Ethereum whales accumulated 323,523 ETH worth $1.12 billion as price briefly dipped below $3,000.
• CryptoQuant analysis shows Ethereum entered a ‘distribution phase’ after completing its four-stage cycle.
• The Coinbase Premium Index turned negative, signaling weak US demand amid extreme bearish sentiment.

Ethereum (ETH) slipped under the key $3,000 level earlier today, which rattled retail traders after a week of heavy liquidations. On-chain watchers said the move flushed out leveraged longs, yet it also triggered aggressive dip buying from large holders. According to Lookonchain, whales have purchased over 323,523 ETH worth $1.12 billion in the past two days.

ETH then bounced back above $3,000 and traded near $3,315 at press time, suggesting buyers defended the round number. This tells traders the $3,000 floor still matters even in a weak U.S. bid environment.

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