Ethereum whale buys $127m in ETH during dip, sparking bullish sentiment

Ethereum (ETH) is hovering around $2,547 and sparking major interest after a whale scooped up 48,825 ETH for $127 million, at an average of $2,605. This large purchase came during a short dip in price, largely due to global tensions and option expiries, signaling solid long-term confidence.

The same investor had already profited $30 million from previous ETH trades, confirming this wasn’t a gamble. Middle East concerns and the expiry of over 242,000 ETH options on Deribit led to market jitters, but the whale’s buy-in helped stabilize sentiment. With a current put-call ratio at 1.20 and a max pain point at $2,700, many believe a strategic move is underway.