🐋 Are whales accumulating cbETH?
🔼 Coinbase Wrapped Staked ethereum:native just recorded 185 trades over $100,000 within 24 hours, the highest since 9/1.
⚠️ Notably, this activity appears exactly when the crypto market falls into panic and creates a short-term bottom.
Immediately after the whale trade volume surged, the price of cbETH stopped falling and began to recover.
📊 Typically, large trades can be a distribution signal.
However, when the price holds firm and then spikes upward, the accumulation scenario is often rated more favorably.
(AE is just for additional reference, RSI D ETH is also oversold – normally it rebounds 25-30% according to recent history)
