$725 Million in Ethereum (ETH) Just Left Whale Wallets: The Timing Is Suspicious
BeInCrypto
Large Ethereum whale outflows and bearish technical patterns suggest potential downside risk despite accumulation from long-term holders.Summary
Ethereum is facing conflicting market signals as whale wallets have offloaded $725 million worth of ETH, aligning with a bearish 'inverted cup and handle' technical pattern. While institutional 'Smart Money' remains cautious, long-term 'hodlers' are aggressively accumulating to defend a critical cost basis support zone between $2,059 and $2,075. The price action currently hinges on maintaining these support levels, with a failure potentially triggering a 19% correction toward a cycle reset.
(Source：BeInCrypto)