Ethereum (ETH) has experienced a sharp decline, slipping below the $4,000 mark and setting a fresh low near $3,820. This move highlights the intense selling pressure weighing on the market as bulls struggle to establish a firm support zone. The decline comes after weeks of elevated volatility, leaving traders cautious about whether ETH can quickly rebound or if a deeper correction may be underway.

Despite the bearish momentum in price action, some analysts argue that this low could mark a potential bottom for Ethereum. Their view is supported by key on-chain data from Lookonchain, which reveals that whales are buying ETH heavily even as prices fall. Large-scale accumulation during selloffs often signals growing confidence among big players, as they take advantage of discounted prices to s

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