Ethereum Whales Buy 1 Mln Coins, Is This Final ETH Price Dip Before Pump?

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Well now, gather ’round, folks, for I have a tale to spin about those mighty Ethereum whales! In a most curious turn of events, these aquatic titans have been gobbling up the ETH price dips like a hungry bear at a picnic, snatching up a staggering 1.1 million coins in a mere 48 hours. Why, it seems that ever since President Trump decided to sign a little something for the US strategic reserve, the ETH has taken a tumble, dropping a good 6% today, much like a cat that’s just discovered a bathtub. 🐱‍👤

Ethereum Whales Are Aggressively Buying the Dips

Our astute crypto analyst, Ali Martinez, has pointed out this remarkable development in the Ethereum waters, revealing that these whales have been on quite the shopping spree, purchasing 1.10 million ETH in the blink of an eye.

This sudden flurry of activity has set the rumor mill churning, with Martinez pondering whether these whales possess some sort of crystal ball regarding future market shenanigans. Could it be that they’re brimming with confidence in Ethereum’s prospects, or are they merely anticipating a grand spectacle? 🎩

Just a day prior, Trump’s DeFi project, World Liberty Financial, decided to dive into the Ethereum pool, splashing around $10 million for a tidy sum of 4,468 Ethereum at a price of $2,238 each. Talk about making a splash! 💦

Now, the ETH whale action has surged like a summer storm over the past week, with an additional 110,000 ETH being snatched up. Historical records suggest that when these whales start hoarding, it often precedes a period of price stabilization or even a delightful upward movement for Ethereum. “As long as Ethereum $ETH stays above $2,200, the odds of a rebound increase,” quipped our analyst, Martinez, with a wink.

At present, the ETH price is trading down 5.75% at $2,170, with a market cap of $261 billion. Liquidations have shot up above $71 million, with $52.96 million in long liquidations, despite that executive order for the US strategic reserve involving ETH. It’s enough to make a man weep! 😢

Will ETH Price Bounce Back Strongly From Here?

Now, on-chain analytics firm Santiment has revealed that Ethereum sentiment has plummeted to its lowest levels of the year, much like a lead balloon. Despite the gloomy clouds hanging over social media discussions, Santiment suggests this could be a silver lining for long-term holders. 🌥️

Our crypto analyst, Titan of Crypto, has dismissed the fears surrounding Ethereum’s decline, asserting that the second-largest cryptocurrency remains as sturdy as a mule. 🐴

According to this sage, Ethereum continues to dance within a broadening wedge pattern—a bullish technical setup, if you will. Moreover, ETH has recently revisited the “Reload Zone” (RLZ), a prime price area where professional traders often look to make their moves. And lo and behold, the image below shows that the RSI is nestled in the support zone, likely to bounce back like a rubber ball! 🏀

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2025-03-07 10:02