PANews reported on November 6th that, according to Lookonchain statistics, several whales have collectively bought 394,682 ETH over the past three days, amounting to $1.367 billion, with an average purchase price of $3,462. The largest buyer was an address that had previously borrowed 66,000 ETH from Aave, suspected to be a whale that had previously shorted the market; it has now repurchased over 250,000 ETH at approximately $3,480. Bitmine, 7 Siblings, OTC traders, and several new wallets have also significantly increased their holdings during this market correction.



Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more