With Bitcoin rising above $100k, alarm bells started ringing for Ethereum (ETH), which reached $4k.
According to the latest data, Ethereum has a whale of activity ETH This shows that selling pressure is increasing. The development in question shows that whales took action when ETH approached $4000. BitcoinWill Ethereum, which is slowly gaining strength against, fall again?
ETH may fall in the short term.
According to data from IntoTheBlock, large investor outflows from Ethereum reached 647,220 ETH on December 3. In the same period, entries were recorded as 582,710 ETH. Growing Bay ETH This shows that selling pressure is increasing.
While interest in Ethereum ETFs remains positive this week, there has been a sharp decline compared to last week. While inflows into Ethereum ETFs were $132.6 million on December 3, the figure was $24.2 million the previous day. Last week’s revenue reached $332.9 million on Friday, but now that amount has dropped significantly.
Also, long positions on the futures side are increasing rapidly. While traders are bullish, the possibility of a major liquidation becomes stronger. Volatility may increase, especially in the $4000 band. This level can act as resistance both technically and psychologically. If this limit is exceeded, the upward speed will be accelerated. In a scenario where the ATH is broken, the highly anticipated altcoin rally could begin.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
