Ethereum whales withdraw $29M despite bearish signals – Will ETH recover?

Ethereum [ETH] whales have intensified their accumulation activity despite broader market weakness, withdrawing millions in ETH from exchanges. As per Lookonchain, two whale wallets received 13,002 ETH, worth roughly $29.09 million, from FalconX and OKX. Specifically, one whale received 9,625 ETH worth nearly $21.57 million from FalconX, while a newly created wallet withdrew 3,377 ETH worth approximately $7.52 million from OKX. These significant ETH withdrawals highlighted a growing interest among the large investors despite Ethereum's recent price weakness. Beyond the reported whale transfers, Ethereum's broader exchange activity revealed token withdrawals despite prevailing market uncertainty.