$1.19 billion ETH accumulation: 11 wallets absorb massive supply as price dips below $4,000

Eleven wallets acquired 295,861 ETH valued at $1.19 billion on Wednesday from five exchanges including Kraken and FalconX. This accumulation coincided with Ethereum's price dropping below $4,000, triggering over $100 million in leveraged position liquidations, with some whale traders losing more than $70 million.