Ethereum Hits Three‑Month High Against Bitcoin as Whale Accumulates Millions

Ethereum (ETH) surged to $1,980 on the Bitstamp exchange, testing the $2,000 level and lifting its market capitalisation to roughly $237 billion. The rally coincided with a broader improvement in macro‑risk sentiment, noted after U.S. officials halted an Iran‑related air strike. Analysts pointed to technical indicators such as an MVRV Golden Cross supporting the price move.

On‑chain data from analytics platform Ai Yi revealed that a large “whale” investor moved 120 Wrapped Bitcoin (WBTC) – about $7.8 million – from an exchange to a private wallet within two hours. Since the start of July the same address has bought approximately 59,404 ETH and 820 WBTC, valued at around $156 million at current prices. The investor’s average acquisition cost was about $1,742 per ETH and $64,329 per WBTC, generating an unrealised profit of roughly $8.9 million.

The combined price rise and substantial on‑chain accumulation were seen as signs of renewed confidence among high‑net‑worth and institutional participants in both Ethereum and Bitcoin markets.