According to Odaily Planet Daily, according to spotonchain monitoring, whales have been frantically buying the bottom of ETH in the past 24 hours:

The whale address "0x395" withdrew 12,000 ETH (about 46.3 million US dollars) from Binance at a price of $3,854 about 18 hours ago, and currently holds a total of 67,981 ETH (about 264 million US dollars);

The new whale address "0x86E" withdrew 8,491 ETH (about $32.5 million) from OKX at a price of $3,824 about 5 hours ago;

About 6 hours ago, the RadiantCapital hacker exchanged 9.7 million DAI for 2,550 WETH through three wallets at an average price of $3,803, and has been laundering the coins through Tornado Cash.