Three Ethereum whales acquired $435 million in ETH within 24 hours, using the dip where the price fell from $4,700 to $4,646 as an opportunity to purchase large amounts of ETH. This activity signals possible bullish momentum towards the $5,000 target.
Despite the whales buying, retail investors seem to be cashing out, contributing to a more positive net flow into exchanges. The Taker Buy Sell Ratio increased, indicating rising buying pressure, while a dropping stock-to-flow ratio raises concerns about Ethereum’s scarcity.
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