The crypto market took a serious hit today, and panic has started to spread across social media. Global tensions, especially the worsening conflict between Iran and Israel, have sparked fear-driven sell-offs across all major asset classes. And crypto, as always, is among the most reactive.
Bitcoin fell sharply, but Ethereum was hit even harder. ETH plunged nearly 10% in the last 24 hours, dropping from just under $2,800 to around $2,500. For many traders, that was enough to trigger panic-selling and risk-off moves – especially after weeks of sideways action.
But while the crowd is running for the exit, some are quietly loading up. And not just anyone – we’re talking whales and smart money.
It do be like that pic.twitter.com/yLQmYcfWqw
— sassal.eth/acc 🦇🔊 (@sassal0x) June 13, 2025
Lookonchain reported that two wallets, likely belonging to the same whale, bought 4,521 ETH worth $11.7 million at a price of $2,593 right after the drop. That kind of aggressive buying in the middle of a crash isn’t normal behavior unless you know exactly what you’re doing – or unless you’ve done it many times before.
And it didn’t stop there.
Another purchase was made just four hours later. This time, the whale – possibly linked to ConsenSys – bought 2,825 more ETH, worth around $7.48 million, through an OTC deal. According to the data, this same whale has accumulated 160,736 ETH in the last two weeks, with an average cost of about $2,620. That’s over $421 million in value.
Then came the biggest move yet.
In the past eight hours alone, this same entity scooped up 48,825 ETH, spending $127 million. The purchases were made via Coinbase and Wintermute, and the average price was around $2,605.
So, while most traders are panic-dumping their ETH bags and watching red candles take over the charts, this whale – who’s already made an estimated $30 million profit on ETH – is buying like it’s a fire sale.
Why would anyone be so bold in a market that’s clearly under pressure?
It’s simple: experienced traders know that these are the moments when big opportunities appear. During times of panic, prices disconnect from fundamentals. Emotion takes over. And that’s when the smart money moves in. They’re not trying to time the exact bottom – they’re buying when blood is in the streets, because they understand one core truth: chaos breeds opportunity.
Even macro-focused accounts like ERGAG CRYPTO are weighing in. In a recent tweet, he suggested that a peace deal may be on the horizon:
“🚨 IRAN WILL SIGN A PEACE DEAL 🚨… Mark this post and watch the peace unfold.”
He followed that with a sobering reminder that while hope exists, geopolitical outcomes are rarely clean or predictable. According to him, Iran’s regime was built on conflict, and this current war might just be their strategic exit. But until peace becomes reality, the volatility we’re seeing could continue.
ERGAG also mentioned that gold may have already topped out around $3,500, and that a push to $3,600 or $3,700 could just be a trap to liquidate late short positions – a classic play in uncertain markets.
Back in the crypto world, the takeaway is clear. While most people are focusing on fear, inflation, war, and losses, whales are focusing on entry points. Whether they’re right or wrong, they’re following a very different playbook than the average trader. They’re looking at discounts, not danger.
So, if you’ve been watching ETH or other major assets from the sidelines, ask yourself this: would you rather chase the price after it rebounds, or start accumulating now, like the whales?
Sometimes, the best trades are the ones that feel the most uncomfortable.
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