Massive Ethereum Exodus: Exchange Balances Fall Sharply Amid Renewed Whale Accumulation

On November 12, 2025, Ethereum's exchange balances fell sharply as a notable portion of the cryptocurrency held on centralized exchanges was withdrawn. This movement coincided with a gradual recovery in ETH's price following a recent pullback. The actions of large investors, or whales, have been pivotal in this trend, as they are increasingly accumulating Ethereum, which suggests a growing confidence in the asset's future. The reduction in exchange balances is significant as it mitigates the risk of a sell-off, reflecting a positive sentiment shift among investors. This event is part of a broader context of Ethereum's market dynamics, where renewed accumulation by whales often precedes price increases, indicating a potential bullish trend for the cryptocurrency.