Massive ETH Dumps Meet $300M OTC Buys: How Will Ethereum Price React?
The post Massive ETH Dumps Meet $300M OTC Buys: How Will Ethereum Price React? appeared on BitcoinEthereumNews.com. Key Insights: A whale dumped 33,682 ETH ($119M) while another bought $300 million via Galaxy Digital’s OTC desk. This signals a battle between sellers and deep-pocket buyers pulling Ethereum price. Mega whale wallet count is rising, and daily active Ethereum addresses have hit 675,000, close to 2021 bull run levels. The Ethereum price must hold above $3,500 to remain bullish, with $3,800 acting as the next potential breakout zone. The Ethereum price is down almost 9% over the past week. But despite this fall, the story isn’t as bearish as it looks. In the past 3 months, Ethereum has more than doubled, showing that momentum is still alive. Right now, whales are doing very different things; some are selling hard, while others are buying big. This tug of war could shape Ethereum’s next big move. Whale Dumping vs. Whale Buying: Both Impacting Ethereum Price In the last three days, a large Ethereum holder (also called a whale) sent over 33,000 ETH, worth nearly $119 million, to exchanges. This usually signals selling pressure. When whales send coins to exchanges, they often plan to sell, and that can pull the Ethereum price down. Whales selling ETH- Source: Lookonchain At the same time, another whale bought $300 million worth of ETH from Galaxy Digital’s OTC (over-the-counter) desk. OTC buys are usually done by smart money or institutions. They prefer OTC because it lets them buy in large amounts without crashing the price on public exchanges. Whale OTC accumulation- Source: CryptoGoos So, in short, one big whale is dumping on the market, while another is quietly scooping it all up. Ethereum Whale Addresses Are Growing Even though one whale is selling, the bigger picture says something else. According to Glassnode data, the number of mega whale Ethereum addresses (those holding more than 10,000 ETH)…
The post Massive ETH Dumps Meet $300M OTC Buys: How Will Ethereum Price React? appeared on BitcoinEthereumNews.com.
Key Insights: A whale dumped 33,682 ETH ($119M) while another bought $300 million via Galaxy Digital’s OTC desk. This signals a battle between sellers and deep-pocket buyers pulling Ethereum price. Mega whale wallet count is rising, and daily active Ethereum addresses have hit 675,000, close to 2021 bull run levels. The Ethereum price must hold above $3,500 to remain bullish, with $3,800 acting as the next potential breakout zone. The Ethereum price is down almost 9% over the past week. But despite this fall, the story isn’t as bearish as it looks. In the past 3 months, Ethereum has more than doubled, showing that momentum is still alive. Right now, whales are doing very different things; some are selling hard, while others are buying big. This tug of war could shape Ethereum’s next big move. Whale Dumping vs. Whale Buying: Both Impacting Ethereum Price In the last three days, a large Ethereum holder (also called a whale) sent over 33,000 ETH, worth nearly $119 million, to exchanges. This usually signals selling pressure. When whales send coins to exchanges, they often plan to sell, and that can pull the Ethereum price down. Whales selling ETH- Source: Lookonchain At the same time, another whale bought $300 million worth of ETH from Galaxy Digital’s OTC (over-the-counter) desk. OTC buys are usually done by smart money or institutions. They prefer OTC because it lets them buy in large amounts without crashing the price on public exchanges. Whale OTC accumulation- Source: CryptoGoos So, in short, one big whale is dumping on the market, while another is quietly scooping it all up. Ethereum Whale Addresses Are Growing Even though one whale is selling, the bigger picture says something else. According to Glassnode data, the number of mega whale Ethereum addresses (those holding more than 10,000 ETH)…
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