Ethereum Accumulation Amid Market Downturn: Institutional Buying Signals Potential Shifts

Despite a market downturn, institutions and large players like BitMine are aggressively buying Ethereum (ETH). These actions show a strategic approach by whales and institutional investors to potentially influence market dynamics. 24,007 ETH worth $82.13 million was recently purchased by Bitmine through Galaxy Digital OTC, while other notable withdrawals from exchanges, including one by the wallet 0x392a, indicate shifting liquidity patterns. BitMine’s CEO, Thomas Lee, highlights his firm’s strategic timing in capitalizing on market dips, suggesting these large purchases are driven by an