In the dynamic world of cryptocurrency trading, a prominent ETH whale or institution has captured attention with its strategic moves during recent market volatility. According to crypto analyst EmberCN on Twitter, this entity, which has already profited a staggering $98.95 million from repeated ETH wave trading, aggressively accumulated positions amid a sharp downturn over the past two to three days. The whale purchased a total of $208 million worth of cbBTC and ETH, demonstrating confidence in these assets despite prevailing market pressures. Specifically, it acquired 60,392 ETH valued at $150 million with an average price of $2,495, and 750 cbBTC worth $57.78 million at an average of $77,040. This buying spree highlights a classic dip-buying strategy, where savvy traders capitalize on fear-driven sell-offs to build long-term holdings.

Current Holdings and Floating Losses in ETH and cbBTC

As of the latest update from EmberCN, the whale now holds an impressive 150,000 ETH, totaling around $330 million, alongside 750 cbBTC valued at $57.78 million. However, these positions come with notable floating losses amounting to $80.65 million. The average cost for ETH stands at $2,726, while cbBTC's average is $77,040, reflecting the impact of recent price dips below these levels. From a trading perspective, this scenario underscores key support levels around $2,495 for ETH, where the whale entered aggressively. Traders monitoring on-chain metrics via platforms like DeBank can observe this address's activity, which shows resilience in holding through volatility. For those eyeing ETH trading pairs like ETH/USDT or ETH/BTC, such whale accumulations often signal potential reversal points, especially if broader market sentiment shifts positive. Resistance levels to watch include $3,000, a psychological barrier that could trigger further upside if breached with volume.

Recent Weekly Accumulations and Profitable Exit

Expanding on the narrative, EmberCN reports that over the past week, this institution bought 70,013 ETH worth $205 million through over-the-counter (OTC) desks like Wintermute and FalconX, at an average price of $2,926. This move aligns with institutional flows seeking value in ETH amid corrections. Notably, today, as ETH reclaimed the $3,000 mark, the whale executed a timely sale of 10,000 ETH at $3,003 via Wintermute OTC, just two hours ago, netting a profit of $770,000. This short-term wave trade exemplifies disciplined risk management, locking in gains after a rebound. On-chain data from Arkham Intelligence confirms these transactions, providing verifiable timestamps that enhance trading analysis. For crypto traders, this pattern suggests monitoring trading volumes on major exchanges; a surge above average daily volumes could indicate sustained buying interest, potentially pushing ETH towards $3,500 resistance in the near term.

From a broader market implication, this whale's actions correlate with ETH's role in the DeFi ecosystem and its pairing with emerging assets like cbBTC, which tracks Bitcoin's performance. Institutional accumulations during crashes often precede recoveries, influencing market sentiment and attracting retail inflows. Traders should consider technical indicators such as the Relative Strength Index (RSI), which might show oversold conditions around these buy levels, signaling buying opportunities. Support at $2,400 could act as a floor if downside persists, while upside momentum might target $3,200 based on historical patterns. In terms of trading opportunities, spot traders could look for long entries on dips, while derivatives players might explore options strategies to hedge against volatility. Cross-market correlations with stocks, particularly tech indices, remain relevant; a rally in AI-driven stocks could boost ETH sentiment due to its smart contract utility in AI applications. Overall, this story emphasizes the importance of on-chain monitoring for real-time insights, helping traders navigate ETH's price movements with data-backed decisions.

Delving deeper into trading strategies, the whale's history of profiting $98.95 million from ETH waves points to a sophisticated approach involving timed entries and exits. Recent buys during the collapse, followed by a quick profitable sell-off, illustrate wave trading at its finest—buying low and selling high within short cycles. For retail traders, emulating this requires attention to market indicators like moving averages; the 50-day MA for ETH currently hovers around $2,800, serving as dynamic support. Trading volumes during the accumulation phase spiked notably, with OTC deals minimizing slippage on large orders. cbBTC, as a tokenized Bitcoin on Coinbase, adds diversification, potentially reducing risk in a BTC-ETH correlated portfolio. Institutional flows like these often foreshadow broader adoption, impacting liquidity in pairs such as cbBTC/USDT. Risks include further downside if macroeconomic factors like interest rate hikes pressure cryptos, but opportunities arise in rebound scenarios. Voice search queries like 'best ETH trading strategies during dips' could lead here, offering insights on leveraging such whale moves for personal gains. In summary, this analysis provides actionable ETH and cbBTC trading perspectives, grounded in verified on-chain data as of February 2, 2026.