On-chain analysis reveals a whale's purchase of nearly $12 million in ETH and a large limit order on Cowswap, indicating potential confidence in a market rebound.
An on-chain analyst reports that a whale acquired 2,971 ETH for over $11.8 million in the past 24 hours. The purchase includes 1,021 ETH bought on-chain for $4.004 million and 1,950 ETH withdrawn from Bybit for $7.86 million. Additionally, the whale has a pending limit order for ETH at $3,860 on Cowswap using 1.93 million USDC, signaling strategic market positioning.