The Ethereum market has seen an increase in profit-taking transactions, with a diamond-hand whale depositing 11,639 ETH tokens worth $46.37 million to Kraken. This whale had previously withdrawn 96,639 ETH from Coinbase, potentially making a profit of approximately $145 million. Other whales have also been cashing in on their Ethereum holdings. The rise in whale activity has led to increased curiosity about Ether's price movement and the impact of these transactions. The increase in big investor transactions may indicate increased high-net-worth activity and could cause the asset's price to become bearish. Currently, Ether is trading at $3,940.18, showing some bearish signs. There is a likely short-term price correction, and the token could experience a bearish momentum if it falls below $3,700.
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