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The U.S. March unadjusted CPI year-over-year dropped to 2.4%, down from 2.8% last month and below the 2.6% market expectation. While this signals cooling inflation, the market reaction has been muted.
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The Big Whale Sees Ethereum's Drop Below 1,800 as an Opportunity and Made a Large Purchase! - Coin Bulletin
A major cryptocurrency whale evaluated the (ETH) get dumped on Ethereum and made a purchase of approximately 11.5 million dollars in ETH.
Whales, known for turning price drops in the cryptocurrency market into opportunities, have sprung into action again. The on-chain analysis platform Lookonchain announced that a large whale evaluated the recent Ethereum drop and purchased a total of 6,488.5 ETH.
It is stated that the cost of this huge purchase is approximately 11.5 million dollars. It was reported that while the whale was making this transaction, the Ethereum price was at an average of $1,772.
The recent fluctuations in the price of ETH are particularly on the radar of analysts carefully watching the movements of large investors. Such high-volume purchases made by whales are generally interpreted as a sign that the market is approaching its bottom levels or has reached a strong support level.
The price of Ethereum has started to recover again after the recent decline it experienced earlier in the day. This development has also increased positive expectations for ETH in the market.