ETH/BTC exchange rate rebounds 7.7%! 10 whales withdrew nearly 18,000 Ethereum, Trump family's WLF increased position by $2.5 million

Last night (20), the release of US PCE data showed lower than expected, boosting the market's expectations for the Federal Reserve (Fed) to cut interest rates in March next year, further driving the cryptocurrency market to stop its decline and rebound.

Bitcoin price rebounded from yesterday's $92,234 to $97,396 before the deadline, with an increase of 5.6%; ETH, on the other hand, surged 11.8% from $3,101.9, currently reported at $3,462.91, with a nearly 24-hour increase of 1.61%.

World Liberty Financial increased its position by 2.5 million ETH.

ETH strong rebound is one of the reasons related to multiple whales making large purchases. According to Lookonchain monitoring, the Trump family's DeFi project World Liberty Financial (WLF) re-entered the market last night when Ethereum had a slight recovery, spending 2.5 million USDC to purchase 759 ETH at an average price of approximately $3,290.

Currently, WLF has purchased a total of 9,587 ETH at an average price of $3,651, with a current value of approximately $33.2 million, and unrealized losses have narrowed to $1.8 million.

10 new wallets collectively withdrew over 60 million ETH from Binance.

In addition, Lookonchain has recorded that after the market rebound, 10 new wallets withdrew a total of 17,698 ETH from Binance, valued at $61.66 million. This move seems to indicate that whales are optimistic about Ethereum's future trend and are buying on dips.

Whales bought tens of millions of ETH at an average price of $3,459.

Meanwhile, on-chain analyst Yujin detected that a whale spent 17.1 million DAI to buy 4,943 $ETH through two addresses around 3:30 AM today, with an average price of $3,459 (almost equal to the current price).

Yujin pointed out that this whale has not operated for a year and a half, with the last transaction being in May last year when it sold 3,723 ETH at a price of $1,888, making a profit of $30,000.

ETH/BTC ratio rebounded nearly 8%.

Driven by multiple whales making large purchases, the rebound of ETH has surpassed Bitcoin, and the ETH/BTC exchange rate has seen a significant rise. From yesterday's low of 0.03337, it strongly rebounded to 0.03594, up 7.7% in less than 9 hours, currently reported at 0.03569.

Whether Ethereum's strong performance can continue remains to be observed.