Ethereum's large investors, dubbed the "7 Siblings," have seized the opportunity presented by the recent price dip to acquire 28,120 ETH valued at $66 million. This purchase coincides with a 4.5% decline in Ethereum's price, which currently hovers around $2,346.
The trading volume for Ethereum has also seen a notable decrease, falling by 21%, hinting at a drop in investor activity and market participation. Such developments are often indicative of reduced market enthusiasm among participants.
Technical analyses of Ethereum's price movement suggest a possibility of it reaching $2,200 soon, driven by existing market trends and investor sentiment.
Additionally, broader geopolitical concerns, particularly tensions in the Middle East, may be exerting influence over the cryptocurrency market, further affecting ETH's performance and valuation.
