According to Lookonchain, while retail traders are panic-selling ETH, a notable whale—who has already realized approximately $30 million profit from previous ETH trades—has aggressively accumulated 48,825 ETH (worth $127 million) from Coinbase and Wintermute over the last 8 hours at an average price of $2,605 (source: Lookonchain, intel.arkm.com). This large-scale accumulation during a period of retail capitulation suggests significant bullish conviction from smart money. For traders, this whale action may indicate a potential local bottom and a reversal in ETH price momentum, potentially impacting short-term trading strategies and market sentiment for ETH (source: Lookonchain).