Ethereum price rose nearly 6% and attracted new whale buying after the US-Iran peace deal improved risk sentiment in global markets.
summary
- A wallet linked to Arthur Hayes received 3,000 ETH worth $5.42 million as Ethereum surged following news of a peace deal between the US and Iran.
- Ethereum rose nearly 6%, while another whale, Geministar.eth, collected 21,136 Ethereum worth about $37 million from Binance.
- Technical indicators show ETH breaking above a multi-week downtrend, with analysts eyeing the $1,850-$1,860 resistance area.
According to chain tracker Lookonchain, the wallet likely linked to BitMEX co-founder Arthur Hayes received 3,000 ETH worth approximately $5.42 million from marketplace firm Flowdesk on June 15. The move came as Ethereum rose alongside other cryptocurrencies after signs that tensions in the Middle East may be easing.
The purchase follows a period in which Hayes was reducing exposure to several altcoins. In his June 8 article titled Reality Test, Maelstrom’s chief investment officer said It has been detected He sold positions in Hyperliquid, Near Protocol, Worldcoin, and Zcash.
Hayes described these moves as a defensive response to macroeconomic risks rather than a rejection of those projects, noting that Bitcoin and Ethereum remain among his core holdings.
Ethereum continues its gains as risk appetite returns
Support for high-risk assets was strengthened after US President Donald Trump announced that the peace agreement with Iran had been completed. Trump said that shipping traffic through the Strait of Hormuz had stopped It has been resumed And that ships carrying oil are moving again through what he described as the safe route.
This development led to a sharp decline in energy prices. The price of crude oil fell more than 5% to about $80.53 a barrel, alleviating concerns that disruptions in one of the world’s most important energy corridors could lead to increased inflation and impact financial markets.
Ethereum has responded strongly to the change in sentiment. At press time, Ethereum was trading near $1,828 after rising nearly 6% over the past 24 hours. The move pushed the asset to its highest level in over a week and helped it outperform several major cryptocurrencies during Monday’s session.
Large investors appear to be increasing their exposure during the rally. sporadic Data The Lookonchain post showed that the wallet address geministar.eth purchased 21,136 ETH worth approximately $37.05 million from Binance through a series of transactions on June 15.
Technical indicators point to a test of the $1,850 area
Price action also improved from a technical perspective. On the daily chart, Ethereum has broken above the downtrend line that has capped rallies since late April. This move places ETH above the upper border of the bearish flag structure that formed during the decline from around $2,400.
Momentum indicators are also starting to recover. The daily MACD has produced a bullish crossover, while the Chaikin Money Flow is moving higher, indicating that selling pressure is fading.
Further upside could depend on whether Ethereum clears a key resistance area near the 0.618 Fibonacci retracement level near $1,858. A successful move above that area would strengthen the argument that the recent breakout invalidates the bearish flag pattern rather than confirming it.
Meanwhile, cryptocurrency analyst Ali Martinez pointed to a possible breakout of the ascending triangle on the four-hour chart of Ethereum. According to Martinez, confirmation of the pattern indicates a move towards the $1,850 area, bringing the target almost directly in line with the resistance area that is currently being tested.
Even before the latest purchase, Hayes maintained an optimistic outlook on Ethereum. In his June market thesis, he predicted that ETH would reach between $10,000 and $20,000 before the current market cycle ended, citing expected liquidity growth and Ethereum’s position within decentralized finance.
Disclosure: This article does not constitute investment advice. The content and materials contained on this page are for educational purposes only.
