🐋Despite Ethereum’s bearish trend and ongoing consolidation between $1,580 and $1,687, major wallets are actively accumulating ETH. Millions of dollars are being withdrawn from exchanges, signaling strong confidence among large holders in Ethereum’s future growth. This accumulation coincides with the anticipation of the upcoming Pectra upgrade, which experts believe could restore Ethereum’s deflationary model through accelerated token burning.
🐋The upgrade aims to counteract the inflationary effects of previous network changes and boost demand for ETH. While the broader market has yet to show clear signs of a reversal, whale behavior may be an early indicator of an impending shift.