Bitcoin (BTC) fell to $115,511, while Ethereum (ETH) dropped below $4,500. Amid the volatility, whales made mixed moves, with some selling on the dip and others accumulating at lower levels.
Whale trading patterns are dividing the market as cryptocurrencies decline.
Similar to previous weeks, whales traded Ethereum widely. According to data from Onchain Lens, two new wallet addresses, suspected to be under the control of a single entity, received over $115 million in ETH (25,684 ETH) from FalconX. This large inflow indicates a potential strategic positioning by a major player.
Separately, another whale increased its holdings of ETH by 3,333 tokens, worth approximately $14.93 million. The newly created address previously received 9,046.23 ETH over the weekend from Kraken.
An on-chain analyst reported that "a total of 16,872 ETH ($74.99 million) was withdrawn from Kraken, at an average price of $4,444.76."
In contrast, a cryptocurrency whale deposited 3,492 ETH, worth $15.57 million, into Binance, realizing a profit of $17.37 million.