Ethereum drops, but whales scoop 540 mln ETH – Accumulating or exiting?

• Whale wallets increased holding to 16.793 million ETH because the exchange Netflows showed a sharp increase in drains.
• USDT’s influx of $ 398 million and ETH drainage ETH $ 540 million for the same day aggressive relocation by large investors.

Ethereum [ETH] Fallen to $ 2,492 and after a refusal near the 2,800 $ released $ 3.73% in 24 hours.

This pullback has developed although the wallets of the whale increased accumulation and the influx of stablecoin increased sharply and indicated strategic relocation behind the scenes.

However, the short -term sentiment remains fragile.

While some traders appear to leave losses, the activity of the on-sector shows a strategic accumulation. This divergence creates uncertainty around ETH another step because they enter key technical levels.

Doubling or signaling caution?

Wallets holding 10K – 100,000 ETH have increased their shares to 16.793 million ETH, indicating strong accumulation.

At the same time, the Netflows exchange showed a sharp 84.22% weekly increase in ETH unlaps, which strengthens the bull long -term view.

However, one whale recently sold $ 10,543 ETH for $ 2,476, causing $ 2 million in two days.

This lonely landfill, albeit engaging, does not necessarily undermine a wider trend of accumulation. Yet it reflects the continuing restlessness in the volatile market.

What has $ 398 million in USDT and $ 540 million in ETH signal?

Chain data revealed significant shift: a harness worth $ 398 million (USDT) flows to Binance, while ETH worth $ 540 million was downloaded from centralized exchanges on the same day.

This means the largest one -day net download of ETH since the beginning of April, which indicates that large holders are likely to move assets to a cooling storage or environment.

Meanwhile, the massive influx of USDT suggests that whales are armed with dry powder to accumulate more ETH because it trades in the perceived range of accumulation.

Of course, this double move suggests more than coincidence. This suggests that the whales circulate with accuracy.

Multiple users connect to the Ethereum, existing users are silent

Interestingly, the Ethereum network has seen an increase in new addresses by 18.73%last week. However, active addresses dropped by 3.18%, indicating that existing users have retreated back.

This divergence suggests that while the long -term interest in Ethereum is growing, short -term involvement will cool down.

Although new users are connected, the existing ones can wait on the sidelines. This behavior is often observed during the temporary phases of the market, when investors hesitate before another big move.

Ethereum’s open interest fell by 3.29% to $ 16.02 billion, emphasizing the reduction of speculative positions.

It seems that traders are closing the bets for lever bets after a recent refusal price for $ 2,800. This decline reflects the risk sentiment because the volatility of the spikes.

However, it can also indicate that the market reset and cleans the weak hands in front of the next leg.

Is finding support or stopping at key FIB levels?

Ethereum recently affected $ 2,629 and coped with an extension of 2,618 fibonacci before withdrawal.

The current price is almost $ 2,492, which sits between critical support and resistance zones. Stochastic RSI shows neutral momentum with values ​​at 61.31 and 51.47.

Therefore, ETH can consolidate from directional escape.

The price action around this FIB should be carefully monitored. If Bulls holds above $ 2,292 (FIB 1.618), it remains possible to continue up.

Despite today’s decline, Ethereum shows strong whale support and the growing influx of stablecoins. While short -term volatility has caused isolated exits, wider metrics point to accumulation.

If the buyer defends the current levels, it remains to bounce towards $ 2,800.