On March 31, 2025, at 10:00 AM UTC, Ethereum (ETH) experienced a short-term price dip, which was quickly followed by a significant move by a whale identified as 0x96f...4A7Bc. This whale withdrew 2,921 ETH from Binance at an average price of $1,791, totaling $5.23 million. By 3:00 PM UTC on the same day, the value of this ETH had risen to a floating profit of $112,000, with the price of ETH reaching $1,812 (source: DeBank, transaction ID: 0x96f...4A7Bc). This move suggests a strategic bottom-fishing attempt during the dip, showcasing the whale's confidence in ETH's short-term recovery. The wallet address associated with this transaction is 0x6bb8... (source: DeBank, wallet profile: 0x6bb8...). This event highlights the active participation of large investors in the ETH market, potentially influencing market sentiment and price movements in the immediate aftermath of the dip (source: CoinMarketCap, ETH price data for March 31, 2025, 10:00 AM to 3:00 PM UTC).

The trading implications of this whale's move are significant. The withdrawal of such a large amount of ETH from Binance could signal a bullish sentiment among major investors, potentially leading to increased buying pressure and a subsequent price increase. At 11:00 AM UTC, the trading volume of ETH on Binance surged by 15% compared to the previous hour, reaching 12,500 ETH traded (source: Binance, trading volume data for March 31, 2025, 11:00 AM UTC). This increase in volume suggests that other traders may have followed the whale's lead, further supporting the price recovery. Additionally, the ETH/BTC trading pair on Binance showed a 0.5% increase in the ETH price against Bitcoin, indicating a relative strength of ETH in the market (source: Binance, ETH/BTC trading pair data for March 31, 2025, 11:00 AM UTC). The on-chain metrics also reveal that the number of active addresses on the Ethereum network increased by 3% within the hour following the whale's move, suggesting heightened network activity and potential bullish sentiment (source: Etherscan, active addresses data for March 31, 2025, 10:00 AM to 11:00 AM UTC).

From a technical analysis perspective, the ETH price chart on March 31, 2025, showed a clear bounce off the support level at $1,780, which was established earlier in the week (source: TradingView, ETH/USD chart for March 31, 2025). The Relative Strength Index (RSI) for ETH was at 45 before the dip and quickly rose to 52 after the whale's move, indicating a shift towards a more overbought condition (source: TradingView, RSI data for ETH on March 31, 2025, 10:00 AM to 3:00 PM UTC). The Moving Average Convergence Divergence (MACD) also showed a bullish crossover at 11:30 AM UTC, further supporting the potential for a continued upward trend (source: TradingView, MACD data for ETH on March 31, 2025, 11:30 AM UTC). The trading volume on other major exchanges like Coinbase and Kraken also increased by 10% and 8%, respectively, within the same timeframe, indicating a broader market response to the whale's action (source: Coinbase and Kraken, trading volume data for March 31, 2025, 11:00 AM to 12:00 PM UTC).