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Ethereum prices have fallen by about 10% in the past 24 hours, with prices falling below $3,200, continuing a week-long downward path that has affected the entire market. Bitcoin prices have also fallen and lost the psychologically important $100,000 mark.
Despite the sharp decline, data shows that institutions and whales continue to accumulate Ethereum.
BitMine Immersion Technologies, a company specializing in digital asset management led by expert Thomas Lee, has continued to accumulate Bitcoin after monitoring a new wallet believed to be linked to the company, which received 9,176 ETH from Galaxy Digital OTC, worth more than $29 million, Lookonchain reported.
Major investors have also stepped up their buying efforts.
In the same context, whale wallet “66kETHBorrow” consolidated its position by adding 16,937 ETH, bringing its total purchases to over 422,000 ETH, worth approximately $1.34 billion – indicating a clear accumulation despite selling pressure.
On the other hand, analyst Ali Martinez revealed that approximately 2.53 million ETH coins were purchased near the $3,150 level, making it a major support area for investors to enter in large numbers during the decline.
However, not all groups reacted in the same way, as Glassnode data shows that the pace of spending by long-term Ethereum holders (from 3 to 10 years) has increased to over 45,000 ETH per day based on the 90-day moving average, which is the highest level since February 2021.
It is understood that some experienced investors have chosen to take profits or reallocate their portfolios due to market weakness.
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