Ethereum Faces Uncertainty Amidst Whale Accumulation and ETF Outflows

Ethereum’s price experienced a slight dip, dropping 4% as large whales continue accumulating ETH. Data reveals significant whale activity, with Bitmine acquiring $251 million worth of ETH across multiple wallets. However, this accumulation doesn’t fully offset the recent outflows from Ethereum-based ETFs. On October 20th alone, over $145 million was withdrawn from these funds, largely driven by BlackRock and Fidelity. This suggests a mixed picture: while whales are accumulating for potential future growth, institutional investors are selling off their holdings due to macroeconomic factors and uncertainty surrounding the Fed’s actions.