Ethereum falls toward 2400, but whales are quietly buying the selloff
Ethereum (ETH) declined nearly 4% toward $2,400 on Wednesday after the CLARITY Act failed to advance in the US Senate, triggering broad selling across the cryptocurrency market. Expectations that the Federal Reserve will raise interest rates at its next meeting have added to the pressure. However, declining exchange reserves, whale accumulation, and consecutive inflows into US spot Ethereum exchange-traded funds indicate that larger investors remain confident in ETH's longer-term outlook. Ethereum exchange reserves drop by 159,000 ETH Ethereum withdrawals have exceeded deposits across cryptocurrency exchanges for five consecutive days, according to CryptoQuant data. The trend reduced exchange reserves by approximately 159,000 ETH during the period.
