Whale Accumulation of $1.34 Billion in Ether Sparks Speculation on Price Recovery Amid Record ETF Inflows

• The whale acquired 312,052 Ether across 10 wallets, indicating strong market interest.

• Analysts suggest this accumulation could push Ether closer to its previous all-time high of $4,890.

• Investors are closely watching upcoming CPI and PPI reports that may impact market sentiment.

New whale activity in the crypto market has sparked interest, with $1.34 billion in Ether purchases potentially influencing future price movements.

What is the Impact of Whale Accumulation on Ether Prices?

The recent purchase of $1.34 billion in Ether by a new whale is significant. This accumulation could help Ether approach its previous all-time high of $4,890, signaling strong market confidence.

How Do ETF Inflows Compare to Whale Purchases?

The whale’s acquisition exceeds the record-breaking inflows to US spot Ether ETFs, which reached $1 billion. This indicates a growing demand for Ether, potentially driving its price higher.

Frequently Asked Questions

What are the implications of high ETF inflows for Ether?

High ETF inflows indicate increased institutional interest, which can lead to higher prices and greater market stability.

How does whale activity affect market sentiment?

Whale activity often signals confidence in a cryptocurrency, influencing retail investors and potentially driving prices up.

Key Takeaways

• Whale Accumulation: The recent $1.34 billion purchase highlights significant market interest in Ether.
• ETF Inflows: Record ETF inflows indicate institutional confidence, potentially driving prices higher.
• Market Sentiment: Upcoming economic reports could influence investor behavior and Ether’s price trajectory.

Conclusion

The recent whale activity in Ether showcases a strong market sentiment, with potential implications for price movements. As investors await key economic data, the crypto landscape remains dynamic and full of opportunities.

The new whale’s investments come amid record-breaking Ether ETF inflows, which may help Ether recapture its old all-time high, market watchers told Cointelegraph.

A newly emerged cryptocurrency whale has purchased $1.34 billion worth of Ether in the past eight days, outpacing record US spot Ether ETF inflows and fueling speculation over the token’s price trajectory ahead of key US inflation data.

The whale acquired 312,052 Ether (ETH) worth $1.34 billion over the past eight days across 10 newly created cryptocurrency wallets, according to crypto intelligence platform Lookonchain.

The whale has acquired $300 million more than the record-breaking inflows to US spot Ether exchange-traded funds (ETFs), which amassed $1 billion worth of Ether on Monday, their largest daily net inflows since launch.

Analysts say the billion-dollar accumulation could help push Ether closer to its previous all-time high of $4,890, still more than 12% above current levels. The surge in demand comes as investors await this week’s Consumer Price Index (CPI) and Producer Price Index (PPI) reports, which could shape expectations for the US Federal Reserve’s Sept. 17 interest rate decision.

Source: Lookonchain

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89% of investors expect a September interest rate cut

The CPI and PPI reports are “key” for shaping monetary policy expectations, as higher-than-expected inflation data may “weaken” investor appetite and “stall” the current crypto rally, according to Javier Rodriguez-Alarcón, chief investment officer at crypto trading and asset management platform XBTO. “The rally fits within ETH’s typical behaviour and could pause or consolidate without fresh catalysts.”

“Its near-neutral Z-score (–0.06) shows that, despite the size of the move, it remains well within ETH’s normal volatility range,” he said, adding that the continued corporate treasury buying may enable Ether to test its prior all-time high.

Related: Bitcoin’s corporate boom raises ‘Fort Knox’ nationalization concerns

Fed target interest rate probabilities. Source: CME Group’s FedWatch tool

Meanwhile, markets are currently pricing in an 82% chance that the Fed will keep interest rates steady during the next Federal Open Market Committee meeting on Sept. 17, according to the latest estimates of the CME Group’s FedWatch tool.

Still, Ether is seeing aggressive profit-taking from short-term Ether holders, signaling that this cohort may expect a pullback.

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