In the early morning, two giant whales sold 18,000 Bitcoin and exchanged them for 416,000 Ethereum. They also added 135,000 ETH long positions to their contracts, which is equivalent to holding over half a million Ethereum in total, worth 2.62 billion dollars.
It's unclear whether this is directly related to the recent plunge, but there have been increasing cases of these whales switching from Bitcoin to Ethereum, not out of a rush to cash out and run, but because they are more optimistic about the future trends of altcoins.
The overall market is still playing around interest rate cuts, with the main players frequently sending out messages and manipulating prices, but the overall support remains relatively stable. I believe we can recover this week.
You can try to buy the dip with a light position around the 4580 line!
