While the Ethereum price remains under severe selling pressure, it appears that some of the larger players in the market are moving in a different direction from smaller investors. The price falling below critical support zones and the weakening of the general risk appetite strengthened a cautious atmosphere in the market.
Remarkable purchase in whale wallet
According to on-chain data, the structure called 7 Siblings borrowed another 20 million USDT through Spark and then started collecting ETH. It was reported that the group, which has purchased 2,254 ETH by spending approximately 4 million dollars so far, has approximately 16 million dollars of available resources for additional purchases.
Mini dictionary: Spark is a protocol used for borrowing and lending in decentralized finance. USDT is a stablecoin whose value tries to be fixed to the US dollar and is widely used in the crypto market.
The fact that 7 Siblings started accumulating ETH after a new loan of 20 million USDT through Spark indicates that during the sharp correction, some major players saw the withdrawal as a long-term entry opportunity, not an exit.
The timing of these transactions also attracts attention. After several weeks of sideways trend, Ethereum broke down and broke below its major moving averages. The asset is trading near $1,760 following a rejection from the $2,300 to $2,400 range on the daily chart.
The technical outlook remains weak
It is stated that the selling pressure in the market is strong and momentum indicators have moved into oversold regions. In the past, it has been observed that a similarly weakened outlook attracted buyers who were much more experienced and had high capital power than short-term traders.
However, it is emphasized that whale purchases alone do not mean a rapid change of direction. Although Ethereum’s daily transaction volume is measured in billions of dollars, the additional purchasing power of $16 million is more important from a psychological perspective. This suggests that some institutional and high-net-worth investors are considering current levels as a long-term entry point.
Critical question for the market is being watched
According to the analysis, if 7 Siblings continues its purchases and other large wallets take a similar position, a local bottom may occur in Ethereum. Such accumulation periods, when selling pressure is absorbed, can often be seen before more pronounced recovery phases.
However, in the current chart, it is stated that the technical structure is fragile and the risk of additional withdrawal remains on the table. Although the evaluation of weakening prices by large investors by taking on new debt shows that market confidence has not been completely lost, it will be clearer in the coming days whether these movements will turn into a broader accumulation process.
