Don't panic, there are short positions, there are long positions, and huge whales are still bottom fishing.

A certain whale has accumulated a total of 17.8k ETH within 10 days, worth approximately $29.76 million.
Whales continuously accumulating during Ethereum's price retracement has become a recent on-chain norm.
Multiple reports retrieved show that since March, several independent addresses (including a recently high-sell OG whale) have been building positions at different price ranges (from $1,563 to $2,068).
Currently, this address has bought 17.8k ETH at an average price of about $1,672 within ten days, with a rhythm and cost that echo the behavior of other whales in the market, indicating that some large funds are viewing the current price level as an accumulation zone.
The most noteworthy detail is the average purchase price.
Compared to another whale in May with a cost basis of $2,155, or even earlier positions often above $2,400, the current cost line of $1,672 has significantly moved lower.
This is not necessarily a bullish signal; it more likely reflects that seasoned on-chain funds are managing costs and diluting holdings, or new whales entering are building positions using volatility.
The collective downward shift of the cost basis suggests that large funds have lower expected anchor points for future market fluctuations.
On June 19, according to OnchainLens monitoring, a certain whale address again spent $17.8k to buy 7,000 ETH.
In the past 10 days, this whale has spent approximately $29.76 million to buy 17.8k ETH, with an average purchase price of about $1,672.
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