Smart Money Whale Dives into BTC and ETH Bottom-Buying Amid Market Volatility

In the midst of what appears to be widespread selling pressure across cryptocurrency markets, a notable smart money whale has emerged as a steadfast accumulator, signaling potential confidence in a rebound for major assets like BTC and ETH. According to on-chain analytics, this investor, who previously realized a staggering $99.22 million in profits from ETH swing trading, has been actively withdrawing substantial amounts from exchanges. Over the past 8 hours as of February 4, 2026, the whale pulled 750 cbBTC from Coinbase, totaling $55.99 million at an average price of $74,665.8 per cbBTC. This move, tracked via wallet address explorations, suggests a strategic bottom-buying approach during a period when BTC prices hovered around key support levels, potentially eyeing a reversal from recent dips.

Expanding on this accumulation spree, the same entity demonstrated even bolder moves in the preceding hours. Data shows that within the past 9 hours, the whale withdrew 20,392 ETH valued at $47.17 million from various exchanges, with an average entry price of $2,313.35 per ETH. Additionally, just two hours prior, they initiated their first position in 500 cbBTC, amounting to $38.74 million at an average price of $77,484.46. These transactions, observed through detailed on-chain metrics, highlight a pattern of high-volume buying during market weakness. From a trading perspective, such whale activity often correlates with increased on-chain volumes and could indicate upcoming price support. For instance, ETH's trading volume surged in tandem with these withdrawals, potentially stabilizing the asset near the $2,300 support zone, while BTC's cbBTC wrapper reflects optimism in Bitcoin's trajectory toward resistance levels around $80,000 if bullish momentum builds.

Analyzing On-Chain Metrics and Trading Opportunities

Diving deeper into the trading implications, this whale's actions provide concrete data points for traders to monitor. The timestamps of these withdrawals—spanning from early February 4, 2026—align with BTC's 24-hour price fluctuations, where the asset dipped below $75,000 before showing signs of recovery. On-chain indicators, such as increased transfer volumes to non-custodial wallets, suggest reduced selling pressure and potential for a short squeeze. Traders might consider long positions on BTC/USD pairs if prices hold above the $74,000 support, with targets at $78,000 based on historical resistance breaks. Similarly, for ETH, the average entry at $2,313 positions the whale favorably for gains if Ethereum breaks its descending channel, potentially driven by broader market sentiment shifts. Institutional flows, as evidenced by these large-scale moves, often precede retail buying waves, making this a key signal for swing traders aiming to capitalize on volatility.

Beyond the immediate trades, this accumulation ties into larger cryptocurrency market dynamics, including correlations with stock markets. As traditional equities face uncertainty, crypto assets like BTC and ETH serve as hedges, with whales like this one amplifying institutional interest. Market indicators show ETH's on-chain active addresses rising by 15% in the last 24 hours, correlating with the whale's buys, while BTC's hash rate remains robust, supporting long-term bullish theses. For those exploring trading pairs, consider ETH/BTC for relative strength plays or BTC/USDT for direct exposure, always monitoring volume spikes above 500,000 ETH daily as confirmation. This whale's $99.22 million prior ETH profits underscore their savvy timing, potentially forecasting a market bottom. Traders should watch for follow-on transactions via wallet trackers to gauge conviction, integrating this with technical analysis like RSI levels below 40 indicating oversold conditions ripe for reversals.

Overall, while the market broadcasts selling narratives, this smart money maneuver injects optimism, reminding traders of the power of contrarian strategies. With total accumulations exceeding $85 million in ETH and BTC equivalents within hours, the implications for price action are profound. If these buys catalyze broader buying, we could see BTC testing $80,000 resistance by mid-February 2026, with ETH aiming for $2,500. Risk management remains crucial—set stop-losses below recent lows to mitigate downside, and diversify across pairs like ETH/USD and BTC/ETH for balanced exposure. This event not only highlights trading opportunities but also underscores the role of on-chain data in informing real-time decisions, potentially shifting sentiment from bearish to cautiously bullish in the cryptocurrency landscape.