Ethereum Whales Buy $60 Million Worth of Bitcoin During Downturn

As the price of Ethereum (ETH) falls to its lowest level since 2023, whales are seen "Buy the
They took advantage of the "Dip" opportunity and purchased approximately $60 million worth of ETH in just 12 hours.
On the 7th (local time), CryptoPotato announced that it has acquired Spot On Chain, an on-chain analytics platform.
Chain), among Ethereum whale investors,
The report said a mysterious group known as the "Siblings" spent $42.66 million to purchase approximately 25,100 ETH at an average price of $1,700.
They will then immediately deposit the entire amount they purchased into the Ave loan platform, potentially allowing them to earn income or obtain loans against their assets.
Another wallet, “0x709,” borrowed 8.25 million DAI from Spark Protocol and purchased 5,227 ETH at an average price of about $1,578.
Rhett received an additional 6,924 ETH (worth roughly $11 million) from the Railgun Privacy Platform, sparking market interest in what follows.
The third address, “0x5f1,” was no exception, as it used 8.13 million DAI to purchase roughly 5,000 ETH at an average price of $1,631.
The buying queue comes as Ethereum is experiencing one of its worst quarters in history, with major whales likely seeing a long-term buying opportunity at lows.
In fact, Ethereum has lost over 45% of its market cap during the first quarter of 2025, and is down a whopping 56% from a year ago.