What Crypto Whales Are Buying Ahead of the U.S. CPI Print

Crypto whales are making their moves ahead of the upcoming U.S. CPI print on September 11. The data is the last major macro release before the Federal Reserve’s September meeting, where interest-rate cuts are on the table. Markets already have weak job growth and rising unemployment, pointing toward policy easing. Inflation will now decide whether cuts are shallow or aggressive.

In this uncertain setup, crypto whales are buying selectively — splitting between risk-on plays, safer allocations, and balanced bets. Here are the three coins drawing whale attention before the CPI release.

Ethena (ENA)

Ethena (ENA) is up 11% in the past 24 hours, extending its weekly rally to 22.7%. With the U.S. CPI print around the corner, ENA has drawn attention as a balanced play. Recent stablecoin-linked news — Binance listing Ethena’s USDe and the launch of USDm with MegaETH — has added credibility to its network.

These developments give ENA a footing that whales may find useful in both scenarios: if CPI cools and rate cuts drive risk-on flows, or if CPI runs hot and demand shifts toward projects with stablecoin depth.

Crypto Whales Buying ENA: Nansen

Crypto whales have been quick to position. In the past week, large holders added roughly 8.25 million ENA tokens, worth about $7 million at $0.84. Exchange balances fell 1.44%, showing accumulation rather than profit-taking.

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A key trigger for this positioning was the Money Flow Index (MFI), which tracks whether inflows outweigh outflows. Since late August, MFI has been rising while ENA’s price has consolidated, showing buyers (including whales) might have been buying dips consistently.

ENA Price Analysis: TradingView

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

The broader uptrend breaks only if the ENA price closes under $0.60. The steady dip buying and whale inflows suggest ENA can absorb CPI-driven volatility while keeping its upside potential alive.

Uniswap (UNI)

Uniswap (UNI), the leading decentralized exchange token, has gained 3.5% in the past 24 hours and over 2% this week. Its broader uptrend remains intact with three-month gains of 16%. UNI also rides the momentum of DeFi’s resurgence, as the sector recently climbed past $160 billion in total value locked (TVL). This backdrop makes UNI a key “risk-on” play as whales position ahead of the upcoming U.S. CPI print.

UNI Wales In Action: Santiment

Whales have added 40.82 million UNI since September 4, worth nearly $398 million at the current $9.75 price. This large inflow signals confidence that UNI’s role in DeFi and whale portfolio could hold up even if inflation data complicates rate-cut bets by coming in hotter.

UNI Price Action: TradingView

The Relative Strength Index (RSI), which measures price momentum on a 0–100 scale, has flashed a hidden bullish divergence. While UNI’s price formed higher lows, the RSI made lower lows between August and early September. This pattern often signals trend continuation, suggesting UNI’s muted consolidation was a buildup phase rather than weakness.

With price now recovering, a daily close above $9.86 could pave the way to $10.70 and $11.60, while support at $9.10 helps safeguard the broader uptrend.

Ondo (ONDO)

Ondo (ONDO) has climbed 5.7% in the past 24 hours and 6% this week, despite its 30-day performance remaining negative. The recent push came alongside a sharp wave of whale accumulation. Since September 4, whale holdings have jumped from 7.77 billion to 8.08 billion ONDO, a net increase worth about $300 million at today’s price of $0.97.

ONDO Whales Picking Up Supply: Santiment

This positioning signals confidence. ONDO is tied to the real-world asset (RWA) space, giving it a steadier profile compared to speculative plays. For crypto whales, this makes ONDO a balanced bet ahead of the U.S. CPI print. If inflation data comes in cooler and rate cuts look more likely, ONDO could ride the broader rally. If CPI runs hotter and risk appetite dips, ONDO’s RWA focus may still keep demand steady.

ONDO Price Analysis: TradingView

On the charts, ONDO has broken through resistance at $0.95, with momentum strengthening after the Bull-Bear Power (BBP) indicator turned positive. A daily close above $1.00 would open the way to $1.11, while support sits near $0.91. This setup explains why whales are stacking ONDO despite recent choppy trading.

The Bull-Bear Power (BBP) indicator measures the balance between buying and selling strength. A positive reading means bulls have gained control, while a negative reading signals bears dominate.

However, a break under $0.85 would invalidate the immediate bullish outlook for ONDO.