Ethereum (ETH) has dropped nearly 30% since December 16, 2024, due to Bitcoin’s (BTC) crash under $90K on Monday. The sudden collapse in BTC and the broader crypto market seems to have created an opportunity for whales to accumulate. According to on-chain data, the supply held by whales has grown by more than 1 million ETH since then. With this bullish development, what’s next? A sustained bottom formation or a swift rally beyond 2024 highs? Let’s explore.
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