The whales are moving again, this time coinciding with one of Bitcoin and Ethereum's biggest ETF purchase weeks of the year. Spot Bitcoin and Ethereum ETF It returned to influx last weekand data show that some whale addresses are also moving crypto assets from the exchange to self-custody.
On-chain tracker LookonChain reported that the newly created wallet has withdrawn a large amount of Bitcoin and Ethereum from major exchanges, indicating a massive accumulation by crypto whales.
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Major withdrawal from crypto exchanges
According to Data from SOSOVALUESpot Bitcoin ETF recorded $3.24 billion worth of inflows in just concreted week, overturning the $902.5 million outflow seen the previous week. In particular, this week's inflows are the largest weekly inflows on this year's spot Bitcoin ETF record. Meanwhile, Spot Ethereum ETF saw a $100 billion inflow last week. This is another dramatic shift from last week's $795.56 million outflow.
However, this activity is not limited to Spot ETFs only. Fresh wallet activity indicates an active accumulation activity that transitions to self-custody among whale addresses. In one example, on-chain analytics tracker LookonChain pointed out that the newly created wallet, identified as 0x982C, has withdrawn 26,029 ETH, worth around $118 million from Kraken.
Another newly created Bitcoin wallet, BC1QKS, has withdrawn its $76 million 620 BTC from Binance. Both moves are a massive relocation of capital away from exchange, indicating that whales are hoping for more price increases.
Whales are buying $eth and $btc!
The newly created wallet 0x982C retracted $26,029 ETH ($118M) from #Kraken 8 hours ago.
The newly created wallet bc1qks retracted 620$btc ($76m) from #binance 6 hours ago.
– lookonchain (@lookonchain) October 4, 2025
Interestingly, Bitcoin exchange balances have fallen to the lowest level in five years. Almost 170,000 bitcoins have been removed from the crypto exchange in the last 30 days, and most activities have just ended. This marked the first time since January 2021, Bitcoin exchange balance fell below 2.85 million BTC.
Bitcoin exchange balance. Source: @btconexChanges from X
Bitcoin and Ethereum price outlook
The combination of institutional influx and whale accumulation is already reflected in both Bitcoin and Ethereum price actions. Bitcoin has skyrocketed beyond previous records, reaching a new all-time high of $125,506 within the last few hours, and is currently trading at around $124,813. This is a dramatic change Just a week ago, When Bitcoin beats under $110,000, the fear and greedy index of Bitcoin is It crashes to the lowest point since March.
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Ethereum has also become bullish and is trading at $4,575 at the time of writing. Another good week of continuous spot ETF influx and whale accumulation at the current pace could cause bitcoin Expand the meeting throughout week. This will allow Bitcoin to break $130,000 by the end of the new week. However, the simple cooldowns are not off the table. It can cause any pullback Bitcoin retesting $120,000 It gets higher before the next leg.
If you're still bullish, Ethereum prices can also be pushed up to something new The highest ever, over $5,000 In the coming weeks.
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