An Ethereum whale acquired approximately $39 million worth of ETH amid a significant market sell-off caused by escalating Middle Eastern tensions, particularly regarding US airstrikes on Iran. On June 22, the whale purchased around 9,400 ETH, increasing its total holdings to $330 million. Even with Ether's price dropping roughly 12.80% to about $2,155, the whale's actions reflect a strong buy-the-dip sentiment within the market. Aside from this major purchase, other Ethereum mega-whales accumulated over 116,000 ETH worth about $265 million on June 21, indicating confidence in a potential price rebound. Technical analysis suggests a possible 25% increase in ETH's price, potentially reaching approximately $2,735, though traders were cautious due to recent geopolitical tensions. Despite the bearish outlook, whales appear to perceive the decline as a long-term buying opportunity rather than a reason for panic, with many increasing their net positions during the price drop.

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