On the other hand, the macroeconomic outlook also seems to support risky assets, after yesterday’s Consumer Price Index (CPI) data remained in line with market expectations. Yesterday, the market sentiment and short-term forecasts of Ethereum investors changed suddenly after the cryptocurrency regained the critical price level of $3,000. This further strengthened the underlying support.

A mysterious wallet contributed to the recovery of the cryptocurrency, which closed the day with a 5.23% increase. This wallet accumulated a fortune worth $92.5 million at a completely new address. Often, tracking the money movements of these players and their investors can help gain insight into which direction the market should go and how an asset’s price forecast is evolving.

We do not know the person behind the identity of the wallet, but thanks to on-chain data we can easily observe that another address financed the fortune with 7 different transfers ranging from 5 to 23 million dollars. All of these transactions took place between May 13-15. The last transaction was processed only 15 hours ago, indicating a strong uptrend.

The whale’s timing was perfect. In fact, Ethereum recorded one of its lowest values ​​in 3 months in the last 3 days. This bottom formation may not lose its validity for a long time. It is also quite interesting that the wallet responsible for transfers has a total of $48 million between ETH, USDT and various altcoins.

This asset’s top holdings include RDNR, IMX, GRT, UNI and LINK, with values ​​ranging from $800,000 to $1.8 million. It is also interesting to see that while the same wallet moved 30,650 ETH to a new address yesterday, it also made a transfer of 1.4 billion STRK, equivalent to 1.7 million dollars, to a new address.

In addition to these 2 interconnected wallets, other whales also took advantage of yesterday’s discounts to make purchases in the cryptocurrency market. A user moved approximately 30,800 ETH from an unknown address to a Coinbase Institutional account, “Whale Alert” reported.

Meanwhile, another investor also raised 10,000 ETH from Bitstamp, worth approximately $29 million.

It is important to highlight that in addition to the significant purchases of mysterious wallets, the Ethereum price is also supported by macro events that strengthen the asset’s short- and medium-term prospects.

Yesterday, United States Consumer Price Index (CPI) data was released, which measures the trend in consumer prices according to statistics from the United States Department of Labor.

As reported, the index is trading at 3.4%, which is in line with investors’ expectations. This indicates a possible reversal in the monetary policy adopted by the FED to date, significantly increasing the likelihood of the first interest rate cut by September.

With inflation “under control,” the Fed is more likely to turn to a more expansionary monetary policy while stimulating speculative markets such as stock markets or cryptocurrencies. This could push up the prices of speculative assets like Ethereum.