$ETH is sitting around $1,900 and the same few wallets keep buying it. Funny how that works.
Lookonchain flagged 7 Siblings, a wallet known for scooping up ETH in crashes, adding another 9,766 ETH (about $18.9M) at $1,933. That's the second big buy in three days, after 10,792 ETH at $2,038 on Nov 11. Erik Voorhees put 4.75M USDT into 2,504 ETH at $1,896. And 58bro.eth sold 8,000 ETH near $2,400 a week ago, then bought back 10,501 at an average of $1,978.
Here's what I'd keep in mind. Every one of those buyers is already underwater, and price is still sliding about 2% on the day. Early dip buyers in a downtrend are usually early, not right. I saw it in 2018 and again in 2022: smart money averaged down for months while retail called every bounce the bottom.
Still, it's a real signal that big hands have a price in mind. What I'm watching:
• whether $1,880 (today's low) holds on a weekend retest
• whether these wallets keep buying lower or go quiet
• exchange outflows picking up
Do you follow whales here, or fade them?
#Ethereum #WhaleWatch #OnChain #CryptoMarket #BinanceSquare
Not financial advice. DYOR.
Lookonchain flagged 7 Siblings, a wallet known for scooping up ETH in crashes, adding another 9,766 ETH (about $18.9M) at $1,933. That's the second big buy in three days, after 10,792 ETH at $2,038 on Nov 11. Erik Voorhees put 4.75M USDT into 2,504 ETH at $1,896. And 58bro.eth sold 8,000 ETH near $2,400 a week ago, then bought back 10,501 at an average of $1,978.
Here's what I'd keep in mind. Every one of those buyers is already underwater, and price is still sliding about 2% on the day. Early dip buyers in a downtrend are usually early, not right. I saw it in 2018 and again in 2022: smart money averaged down for months while retail called every bounce the bottom.
Still, it's a real signal that big hands have a price in mind. What I'm watching:
• whether $1,880 (today's low) holds on a weekend retest
• whether these wallets keep buying lower or go quiet
• exchange outflows picking up
Do you follow whales here, or fade them?
#Ethereum #WhaleWatch #OnChain #CryptoMarket #BinanceSquare
Not financial advice. DYOR.
