In brief
- Ethereum whales purchased over $350 million in ETH during the recent market pullback.
- Experts say the OTC nature of the trades points to institutional accumulation, not retail activity.
- This behavior suggests large investors are positioning for a medium-term rebound despite macro uncertainty.
The broader crypto market outlook remains subdued due to macro uncertainty, but large Ethereum investors are using the downturn to accumulate substantial holdings.
On-chain data reveals a series of major purchases by institutional-scale investors, as Ethereum forms a local bottom, potentially ending the market selloff that began in late October.
A newly created wallet bought 10,000 ETH worth roughly $34 million last Wednesday, as Ethereum…
