Crypto
ETH Price Dives Amid Global Uncertainty as Whales Accumulate $126M
Ethereum's price slid to $2,356 on September 2 during intraday trading, marking a 5.5% decline from recent peaks around $2,510.
The downturn coincided with escalating international conflicts between the US and Iran, which sent Brent crude oil prices approaching $95 per barrel and drove up Treasury yields above 4.8%, contributing to market uncertainty.
Despite this, substantial buying activity emerged from deep-pocketed investors, with two previously dormant Ethereum whale addresses withdrawing a total of $126.25 million in ETH from custodians FalconX and BitGo, sparking speculation about potential institutional accumulation.