The giant whale quietly hoards, is ETH on its way to $2000?
Recently, a mysterious big player swept away $110 million worth of ETH and BTC through Wintermute OTC, including 30,000 ETH. This quiet accumulation is often a sign of market brewing.
On-chain data shows that the number of wallets holding between 1,000 and 100,000 ETH has remained almost unchanged, indicating that big players are not offloading but are instead steadily increasing their positions at lower prices. Meanwhile, the number of large transactions has surged, revealing that institutional investors' confidence is recovering.
Currently, the price of ETH is approaching $1800, with a neutral to strong RSI on the technical side, and the MACD also showing a bullish crossover. If the overall market remains stable, the probability of ETH hitting the $1850 to $1900 range is increasing, and once it breaks the $1900 barrier, a move to $2000 will be a natural progression.
However, it is important to note that while the whale's actions are beneficial, there remains uncertainty in the market, especially with changes in the macro environment and the policies of the United States, which could still affect short-term trends. Proceed with caution, and do not blindly chase high prices!
