ETH Price Outlook as Whales and Sharks Rejoin the Market

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One analyst said $10,000 ETH is possible but not anytime soon.

After dumping over 1.3 million tokens in the span of 11 days, big Ethereum wallets —known as sharks and whales —have returned and started reaccumulating at an impressive pace.

At the same time, Tom Lee, who has been behind Bitmine’s sizeable ETH purchases over the past several months, remains highly bullish on the asset, indicating that leverage has been wiped out and it’s clear for takeoff.

Whales Are Back
Santiment reported that these wallets, holding between 100 and 10,000 ETH, had disposed of 1.36 million coins between October 5 and 16. At the time, ETH’s price was quite volatile, surging beyond $4,750 only to dump beneath $3,500 during the October 10 market-wide crash.


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The price rebound has also increased interest among future traders betting on Bitcoin’s near-term price movements.

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