#CPIWatch $ETH

🚨 Ethereum Whales Keep Accumulating Despite Weak On-Chain Signals

Ethereum whales are buying the dip once again. Since Saturday, wallets holding between 10K–100K ETH have added over 200,000 ETH, bringing their total to 22.31 million ETH, according to CryptoQuant.

Meanwhile, smaller holders — wallets with 100–10K ETH — have reduced their exposure by nearly 140,000 ETH, reflecting growing caution in both spot and futures markets.

On-chain data shows exchange inflows are now outpacing withdrawals, pushing the 7-day moving average of exchange netflows from -47K ETH to +9.2K ETH. This indicates some investors are preparing to take profits or hedge positions.

At the same time, network activity has cooled — active addresses have fallen below 400K, and daily transactions dropped under 1.5 million since October 17. Open interest in ETH futures remains below 11.5 million ETH, signaling reduced speculative demand.

Technically, Ethereum is struggling to hold the $3,815 support, after facing rejection at the 100-day EMA. Data from Coinglass shows $115.9 million in liquidations within 24 hours — $62.8M in longs and $53.1M in shorts.

If ETH fails to defend $3,815, the next support lies at $3,660, and then $3,470 near the 200-day EMA. On the upside, a breakout above $4,100 and the 50-day EMA could reignite bullish momentum.

Despite mixed on-chain data, whales remain confident — accumulating while retail investors retreat.

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