Whales: ETH Swaps Top $112M as Ratio Breaks 0.03

Whales continued aggressive rotation into ETH despite the ETH/BTC ratio dropping below 0.03 for the first time since the August 19 rally start, according to @ai_9684xtpa. One address converted 837.78 UBTC into 27,501 ETH at 0.03046 for $69.78 million, while a second address exchanged BTC for 16,704.47 ETH at an average $2,541.89, adding $42.46 million more.

Price action on the 4h chart shows ETH at $2,479.04 inside a bearish structure with EMA50 at $2,557.31 and EMA200 at $2,577.18 acting as overhead resistance. The MACD death cross at -13.93 reinforces downside momentum while RSI at 39.71 remains neutral; price sits near the lower Bollinger band at $2,457.34, suggesting any bounce toward upper-band resistance at $2,568.20 would likely stall at the 50-EMA before fresh selling pressure resumes.