Garrett Jin Deposits $1.35B ETH to Binance

Whale trader Garrett Jin, known as #BitcoinOG1011short, just unloaded his final 225,627 ETH valued at $528.19 million into Binance, capping a four-day spree where he deposited a staggering 577,896 ETH totaling $1.35 billion. He swapped most of this from BTC eight months back when ETH hit $4,591, a move that now screams profit-taking or repositioning as the crypto market grapples with fresh ETH whale deposit pressures and potential crypto market sell-off signals. This haul echoes the massive inflows we saw during last fall's volatility spike, when similar dumps preceded a 15% dip in ETH over two weeks, tying into broader trends like Bitcoin dominance and emerging plays in TAO for decentralized AI infrastructure.

On the 4-hour chart, ETH trades at $2,362.27 in a clear bullish structure, hugging above the EMA50 at $2,329.26 which acts as immediate support while the EMA200 at $2,273.18 reinforces the longer-term floor. MACD shows a fresh golden cross with a reading of 7.99, signaling sustained upside momentum, but RSI at 61.04 sits neutral, hinting at no immediate overbought exhaustion. Price probes the upper Bollinger Band resistance at $2,372.44, with the lower band at $2,268.41 offering a volatility cushion—confluence here suggests a quick test of that upper barrier could trigger a shallow pullback to the EMA50 before resuming the grind higher, especially if whale flows like this don't cascade into a broader ETH price prediction downturn.