Perhaps the three wallets owned by the same large holder, 14,942 ETH, or three wallets about $64.38 million, costing around $64.38 million, are around $64.38 million before depositing the entire amount in Binance within the past hour, according to on-chain data tracker Arkham. Combined with current technical conditions, a massive surge in inflows could change the current shape of market assets.
Market Performance
Ethereum has broken through a considerable downward trend line, paving the way over it without immediate historical resistance, according to price action analysis. As long as the general market situation is favorable, there is a possibility of upward continuation given this bullish breakout and the lack of a critical technical ceiling.
Supporting bullish arguments is the fact that ETH’s long-term trading volume is steadily increasing. Strong market participation supporting breakouts and trend momentum is often consistently shown at greater volumes. Current gatherings are supported by substantial capital inflows rather than merely speculative. However, considerable deposits of whales add a layer of uncertainty.
Moving assets into exchanges and unlocking them may be considered a step towards liquidation, but these actions are not always sold immediately. Instead of liquidating all assets, highnet owners may use central exchanges for structured trade collateral or strategic real locations.
Short-term outlook
Short-term volatility has historically been caused by similar whale deposits to meet the possibility of large-scale sell orders to reach the order form. Market responses in future sessions will show whether whales are planning to redistributing capital in anticipation of future profits, or whether this was an opportunistic move to seize profits after breakouts.
Ethereum currently trades for around $4,280, well above the breakout zone. These days are important as they will either confirm bullish momentum towards new highs or face turbulence if this whale activity creates strong selling pressure.
