✅ ✅ What’s behind $ETH Ethereum’s bull run? Whales, ETF approval, and…
* Ethereum whales have become more active recently.
* ETH is attempting to establish the $3,600 range as its support.
Analysis revealed that before the Ethereum $ETH ETF was approved, a particular whale address made bold moves by acquiring more ETH at a specific price level.
The data indicated that the whale acquired 8,733 ETH at approximately $3,054.56, totaling around $26.67 million. As a result, the whale wallet now holds approximately $6 million in unrealized profit.
Following the approval of Form 19b-4 by the Securities and Exchange Commission (SEC), the whale proceeded to purchase other tokens within the Ethereum ecosystem, amounting to $24.7 million.
Further examination showed that the number of addresses holding $100,000 or more worth of $ETH also experienced a notable surge.
The Relative Strength Index (RSI) showed Ethereum slightly below the overbought zone. This suggested a strong bullish trend but also implied the possibility of a decline, even amidst another potential bull run.
