Ethereum Update: Major Holders Offload $52M as $1.35B Investor Wagers on Market Rebound
- Ethereum whales sold $52.4M in ETH at $2,994.9, incurring $18.4M losses amid a 28% 30-day price drop. - Market-wide bearishness intensified as Bitcoin fell below $86,000 and ETH hit a four-month low near $2,700. - Technical indicators show all EMAs in downtrend, Bull Score Index at 20 (lowest since 2020), and ETH derivatives open interest dropped to $35.5B. - Top DATs like BitMine face 25-48% paper losses, with mNAV ratios below 1 raising liquidity risks amid $415M 24-hour ETH outflows.
Within the last hour, a whale address moved 8,920 ETH to Binance at a loss, highlighting ongoing downward pressure on Ethereum's price trend.
This ETH transfer to Binance seems to be part of a broader liquidation approach by institutional investors.
Ethereum DATs, once considered safe options for crypto exposure, are now in the red, with leading firms like BitMine and SharpLink
On-chain activity adds to the market’s vulnerability. Ethereum’s net outflows over the past 24 hours totaled $415 million, and both spot and derivatives data point to persistent selling.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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