One of the largest whales in the Bitcoin space moved more than $10.6 million in Ethereum in the last 48 hours, as per data released by Lookonchain on Sunday, January 25. Wallet address 0xeA00 exchanged 120 BTC for 3,623 ETH in one of the latest transactions involving a transfer from Bitcoin to Ethereum.

Source: X

Such BTC-to-ETH rotations are often interpreted as strategic portfolio positioning by sophisticated investors, rather than short-term speculation.

Analysts tracking on-chain flows note that sustained capital movement of this size can influence broader market sentiment, particularly as ETH shows renewed technical strength amid a period of consolidation across the crypto market.

Also Read: Ethereum (ETH) Tests $3,060 as Gold-Style Reversal Structure Emerges

Ethereum (ETH) Technical Setup Points to Potential Volatility

Ethereum (ETH) price is currently exhibiting technical indications that are characteristic of a bull run following a series of consolidative moves over a number of weeks.

According to the crypto analyst Hailey LUNC, ETH has been exhibiting a technical chart pattern known as a bullish pennant. This pattern is often associated with a continuation of a strong run.

This usually happens when selling pressure is reduced and buying interest accumulates over a period of time characterized by a tightening price range. In the case of ETH, the analyst implies a move, but this move is likely to result from a position taken before the actual move, rather than a position being closed.

ETH Breakout Scenario Targets $6,400 Zone

The momentum indicators, which include the compression of volumes and higher lows, are starting to move in the right direction for the technical narrative to be considered bullish. However, once ETH breaks out above the key resistance levels, the technical projection for the upside price targets for ETH would be around the $6,400 region.

Source: X

Participants in the market, however, caution that technical targets only have a probability of occurring, and price movements in the short term can always be volatile. ETH is currently in a consolidation phase after securing recent gains.

Also Read: Ethereum Fees Hit Record Lows as Contract Deployments Surge

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Filed under: Bitcoin - @ January 25, 2026 7:22 pm