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What Are Crypto Whales Buying Ahead of the US CPI?

Whales bought 8.25 million ENAs worth $7 million at $0.84. Upside targets: $0.95 and $1.16.

UNI whale inflows reached 40.82 million tokens, worth $398 million. The hidden RSI divergence points to $10.70 and $11.60.

ONDO 310 million tokens increased in value by $300 million. Momentum is targeting $1.11, with $0.91 serving as key support.

Crypto whales are mobilizing ahead of the US CPI data release on September 11th. This data is the last major macroeconomic release before the Federal Reserve meeting in September, where interest rate cuts are on the table. Markets are already facing weak job growth and rising unemployment, suggesting policy easing. Inflation will determine whether the cuts are superficial or aggressive.

In this uncertain environment, crypto whales are making selective purchases: they are splitting between risky investments, safer allocations, and balanced bets. Here are three coins that have caught the whales' attention ahead of the CPI release.

Ethena (ENA)

Ethena (ENA) has gained 11% in the last 24 hours, extending its weekly rally to 22.7%. With the US CPI data approaching, ENA stands out as a balanced investment.

It provides a platform that whales could find beneficial in both scenarios: if the CPI falls and interest rate cuts boost risky investments, or if the CPI rises and demand shifts to projects with stablecoin depth.

Crypto whales quickly took positions. Last week, large holders added approximately 8.25 million ENA tokens, worth approximately $7 million at the $0.84 price. Exchange balances fell 1.44%, suggesting accumulation rather than profit-taking.

The primary driver of this positioning was the Money Flow Index (MFI), which tracks whether inflows exceed outflows. Since late August, ENA's price has
consolidated while the MFI has risen, suggesting that buyers (including whales) may have been consistently buying dips.

On the charts, the ENA has broken above $0.77 and is now facing resistance at $0.87. A higher daily close could open targets at $0.95 and $1.16.

The broader uptrend will only break if the ENA price closes below $0.60. Sustained dip buying and whale entries suggest the ENA can absorb CPI-driven volatility and maintain its upside potential.

Uniswap (UNI)

Uniswap (UNI), the leading decentralized cryptocurrency exchange token, has gained 3.5% in the last 24 hours and more than 2% this week. The broader uptrend remains intact, with 16% quarterly gains. UNI is also riding the momentum of DeFi's resurgence, as the sector recently surpassed $160 billion in total value locked (TVL). This backdrop makes UNI a key risk-on investment for whales to position themselves in ahead of the upcoming US CPI data.

Whales have added 40.82 million UNI since September 4th, worth almost $398 million at the current price of $9.75. This massive inflow signals confidence that UNI’s role in DeFi and the whales’ portfolio can hold up even as inflation data complicates interest rate cut expectations.

The Relative Strength Index (RSI), which measures price momentum on a scale of 0–100, has shown a subtle bullish divergence. While UNI's price made higher lows, the RSI made lower lows between August and early September. This pattern typically signals a continuation of the trend and suggests that UNI's quiet price stagnation is an accumulation phase, not weakness.

As the price is now recovering, a daily close above $9.86 could open up $10.70 and $11.60, while support at $9.10 helps maintain the broader uptrend.

Ondo (ONDO)

Ondo (ONDO) has gained 5.7% in the last 24 hours and 6% this week, but its 30-day performance remains negative. The recent surge came amid a wave of whale accumulation. Since September 4th, whale holdings have increased from 7.77 billion to 8.08 billion ONDO, representing a net increase of approximately $300 million at today's price of $0.97.

This positioning signals confidence. Because ONDO is tied to the Real World Asset (RWA) space, it offers a more stable profile than speculative investments. For crypto whales, this makes ONDO a balanced bet ahead of the US CPI data. If inflation data comes in lower and interest rate cuts appear more likely, ONDO could capture the overall rally. If the CPI comes in higher and risk appetite wanes, ONDO's RWA-focused structure could keep demand stable.

On the charts, ONDO broke through the $0.95 resistance, and momentum strengthened as the Bull-Bear Power (BBP) indicator turned positive. A daily close above $1.00 could lead to a $1.11 level, while support is around $0.91. This explains whales' accumulation of ONDO despite recent volatile trading.

The Bull-Bear Power (BBP) indicator measures the balance between buying and selling power. A positive reading indicates that the bulls are in control, while a negative reading indicates that the bears are dominant.

However, a drop below $0.85 would invalidate the near-term bullish outlook for ONDO.