Today, the weakened Ethereum price drew attention following Donald Trump’s crypto DeFi project strengthening its position in the Ether market.
On January 15, World Liberty Finance (WLFI) aggressively accumulated massive Ethereum tokes amid the ongoing crypto market correction.
Trump accumulates 3,075.19 Ether
According to data shared by crypto trader Arkham, this crypto project backed by Donald Trump took a bullish stance last night. It spent a total of $9.88 million in WBTC to buy 3,075.19 Ethereum at an average price of $3,226 for each token.
With the latest acquisition, World Liberty Finance now holds a total of $46.4M of ETH, a decline of 7% from their initial investment of $49.8 million.
The whale grabbed the market dip as an opportunity, making significant acquisitions of Ethereum tokens. This strategic move by the whale signals strong market sentiment on Ethereum. Her activity signifies confidence among professional traders that the ongoing declines in Ether values would be short-lived. The asset will make a rapid recovery and embrace an uptrend in the future.
The buying of the dip by the whale signals that big investors and traders are confident in Ether’s future price trajectory and are deciding to hold their assets, expecting a price rise.
The accumulation of this kind indicates that bullish sentiment about Ethereum is increasing, as investors anticipate greater returns soon.
Ethereum price analysis
Today, the US BLS released its report that indicated that the CPI rose by 0.4% last month, slightly above November’s 0.3%.
BTC immediately rose by 2.0% to reach $98,500 following the release of December’s CPI. Traditional markets also responded positively to the report; with US stocks markets saw a rise of 0.5% while the dollar and bond yields declined steadily.
Alternative cryptocurrencies led by Ethereum also immediately followed Bitcoin’s positive move. Ether surged by 3% while XRP rose by 2.6%. The total crypto market cap rose by 5.6%, which enabled it to reach $3.33 trillion after the announcement. The global market’s daily trading volume also climbed by 25% to reach $154 billion following the report.
Ethereum is currently trading at $3,433.64, up 6.8% over yesterday. Its trading volume is also up 7.50% over the previous day, indicating a recent increase in market activity, especially buyers are prevailing.
Analysts expect crypto markets to brace for a highly volatile week ahead of the incoming of the new regime led by US President Donald Trump. As a result, crypto prices may see a rise or fall by 10%. The incoming president will give announcements touching on various issues; consequently, crypto prices will respond based on the news events.
The latest price moves triggered by the CPI index report show that the forthcoming announcements may further influence crypto markets.
The highly anticipated speech by President Trump will likely have long-term impacts across the year, particularly on issues like strategic Bitcoin reserve, regulatory clarity, and others.
