Ethereum Sees Major Whale Investment Amid Market Uncertainty
Ethereum (ETH) is currently trading around $2,547. A large investor recently bought 48,825 ETH for $127 million, averaging $2,605 per coin. This meaningful purchase occurred during a price dip, driven by global tensions and expiring options. The move shows strong confidence in ETH’s long-term potential.
The same investor previously made $30 million from ETH trades. Middle East concerns and the expiry of 242,000 ETH options on Deribit caused market jitters. However, the whale’s buy-in helped stabilize sentiment. with a put-call ratio at 1.20 and a max pain point at $2,700, this could be a strategic move.
Ethereum is trading between $2,518 and $2,580. Here’s what to watch:
- Bullish: Close above $2,568 and 50 EMA; targets $2,607 and $2,647.
- Bearish: drop below $2,518; targets $2,440 and $2,300.
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