Ethereum whales, holding between 1,000 and 10,000 ETH, sold off over 63,000 ETH (approximately $113.5 million) within a 48-hour window, according to analyst Ali Martinez on X. This distribution coincided with ETH's recovery rally, suggesting profit-taking.
Conversely, Bitcoin holders with 10 to 10,000 BTC accumulated 19,255 BTC during the same period, as reported by Santiment on X. This accumulation trend suggests stronger support for the Bitcoin recovery compared to Ethereum.
Santiment also noted significant inflows into Bitcoin spot ETFs, reaching the highest weekly net inflows since mid-January. These inflows, driven by institutions like Blackrock, have contributed to Bitcoin's recovery, which reached as high as $95.8K today. Ethereum is currently trading around $1,800, up more than 12% in the last week.