Ethereum Eyes New All-Time High as Whales Continue Accumulation

In Brief

• Ethereum whales continue to accumulate despite the seeming stagnation in the price growth.
• With such accumulation, analysts see a potential rise towards a new all-time high if the trend is sustained.
• However, the price rise may take a little longer than expected if market sentiment remains in the current state.

Shedrach Kongvong 2025-11-11

Ethereum has continued to trend sideways as the crypto market remains largely stagnant. However, whales are quietly accumulating the coin despite the slow price movement. Analysts see potential for an eventual rise towards a new all-time high.

Data shared by crypto analyst Michael van de Poppe shows that Ethereum needs to break the $3,800 to $3,900 price level for the next rise to a new all-time high begins.

How soon will the new all-time high become a reality? This depends on how long it takes for the market to flip bullish.

Technically speaking, $ETH is in accumulation land.

It needs to bereak the $3,800-3,900 area and then we're off towards new ATHs.

Overall, it's still 20-30% to go before we're back to the levels before October 10th.

Things take time. pic.twitter.com/rl4UxB9kL2

— Michaël van de Poppe (@CryptoMichNL) November 11, 2025

Accumulation Could Trigger Surge to new All-Time High

Poppe says Ethereum has entered an accumulation phase, meaning whales are buying up the coin and holding for the long run.

This implies that investors are confident in the future of the coin and are looking forward to higher prices in the near future.

Such accumulation is shown by the amount of Ethereum on centralized exchanges reaching a significantly low level as investors withdraw coins to personal wallets.

Ethereum Exchange Supply on Binance Falls to Its Lowest Level Since Last May

“Overall, current indicators reflect a transitional phase in the Ethereum market, where investors appear to be accumulating and holding.” – By @ArabxChain

Read more ⤵️https://t.co/zwIkpf5Yh1 pic.twitter.com/vNLCJQyuIl

— CryptoQuant.com (@cryptoquant_com) November 11, 2025

With such holding, the coin may be getting ready for the move towards the new all-time high that Poppe anticipates, but there’s a catch.

Rally May Take Longer than Expected

Although whales are accumulating Ethereum and showing confidence in the coin, the rally predicted by Poppe may take longer than most people expect.

The Bitcoin Fear and Greed Index — which determines the general sentiment in the market — currently shows extreme fear, which means most people are watching from the sidelines.

Bitcoin Fear and Greed Index is 22. Extreme Fear
Current price: $56,159 pic.twitter.com/jyrtLakbIi

— Bitcoin Fear and Greed Index (@BitcoinFear) September 6, 2024

With this sentiment prevailing, it may take longer than expected for Ethereum to start heading towards a new all-time high, which other analysts have earlier predicted.