Ethereum’s quiet $114 mln bid: Inside the whale moves no one’s talking about
Main Idea
Despite a bearish spot market, Ethereum is experiencing significant whale activity and ETF inflows, suggesting potential for a breakout as futures volume increases and spot supply tightens.
Key Points
1. Wallet 0xF436, likely linked to DeFiance Capital, accumulated 30,366 ETH worth $114 million in 28 hours, aligning with rising ETF inflows.
2. The trader holds 48,405 ETH in open long positions ($181 million) with an unrealized profit of around $33 million, showing resilience after recent liquidations.
3. CryptoQuant's Futures Volume Bubble Map indicates heating conditions, while the 30-day Spot Cumulative Volume Delta (CVD) remains in taker sell dominant territory, reflecting persistent spot-side pressure.
4. The article questions whether derivatives momentum can push ETH above resistance despite bearish spot market conditions.
5. A potential breakout is suggested if futures volume continues to rise while spot supply diminishes.
Description
Can Ethereum’s derivatives market fuel a breakout even if spot traders keep selling?
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