Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead. Grab a coffee, because significant movements are underway as whales are splitting their positions, institutions are quietly loading up, and Tom Lee’s BitMine is accelerating faster than anyone else amid a major on-chain pattern break.
### Ethereum Whale Accumulation Surges
Ethereum whales have brought their total holdings to 422,175 ETH (approximately $1.34 billion) in just a few days. Despite enduring around $126 million in unrealized losses, this prominent whale continues to accumulate with strong conviction, signaling optimism about Ethereum’s future.
### Machi Brothers Double Down Despite Losses
Traders known as Machi Big Brother and Machi Small Brother have also increased their long positions on Hyperliquid, even while deep in the red:
– **Machi Big Brother:** 7,400.7 ETH ($23.55 million), liquidation price at $3,040
– **Machi Small Brother:** 5,000 ETH ($15.9 million), liquidation price at $2,794
On-chain analyst Lookonchain notes that both traders added margin as the ETH price fell to avoid liquidations. This move reflects confidence in a rebound despite currently being heavily underwater.
### Tornado Cash Wallet Sparks Richard Heart Speculation
In other news, a Tornado Cash-linked wallet (0xa13C) sold 4,978 ETH ($16.29 million) at a price of $3,273 per ETH. On-chain data indicates this entity previously deposited 162,937 ETH—funds analysts associate with Richard Heart, founder of HEX and PulseChain. Although no official confirmation has emerged, this sale feeds into the growing narrative of whale divergence.
DeFi researcher 0xNobler commented, “Crazy accumulation happening behind the scenes.”
### Looking Ahead: Ethereum’s Fusaka Upgrade
The next major catalyst for Ethereum is the upcoming Fusaka upgrade, scheduled for December. Crypto Rover pointed out that the recent smaller Pectra upgrade pushed ETH up by 50%, adding momentum to expectations of renewed volatility surrounding the December event.
### What’s Next for Ethereum?
With whales deeply divided and institutions quietly accumulating, Ethereum’s price action may depend on whether BitMine and other large buyers can sway market sentiment before the upgrade window opens in December.
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### Chart of the Day
*Byte-Sized Alpha*
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### More US Crypto News to Follow Today:
– Crypto Equities Pre-Market Overview
Stay tuned for continued updates as the market unfolds.
https://bitcoinethereumnews.com/ethereum/tom-lees-bitmine-leads-ethereum-whale-surge/