Whale nemorino.eth buys ETH at a low price, market bottom signal?

Previously bearish whale nemorino.eth has started to rebuild his position! Just 2 hours ago, he bought back 3,000 ETH for $1,906 using 5.718 million USDC. This big shot's moves are always closely watched, so let's briefly review his trading logic:

Early February sell-off: he sold 10,828.5 ETH (approximately $28M) at the high of $2,586, de-leveraging and repaying his Aave loan, and subsequently ETH indeed dropped to $1,800, accurately bearish.

Continued reduction in March: he sold 2,000 ETH and 3,000 ETH at prices of $2,184 and $1,912 respectively, further reducing his holdings. Now buying the dip?: today he bought 3,000 ETH at $1,906, investing 5.718 million USDC, possibly believing that the current price has reached the low point and is worth entering.

Market analysis: the current ETH price hovers around $1,900, down about 27% from the February high, with market sentiment leaning bearish. However, this whale's purchase may suggest that the bottom is near, especially with the approval of ETH ETFs and the ongoing development of the dApp ecosystem, making future rebound potential worth looking forward to.

#ETH #WhaleActivity #MarketAnalysis #BinanceSquare

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