A wallet that sat untouched for more than 2 years just woke up in the middle of this ETH dump.
Per Lookonchain, a dormant whale withdrew 34,601 $ETH (about $73.75M) from Binance over roughly 3 hours today. ETH trades near $2,094 on Binance, down about 6.5% in 24h, after tagging $2,060 on Sunday. Yesterday I said a break of the $2,206 floor likely meant a trip to $2,174 and it went straight through.
My read: big exchange outflows during a flush usually mean coins heading to cold storage, not to a sell button. One whale doesn't fix the trend though. I'd want ETH back above $2,206 before calling a bottom, and a daily close under $2,060 means this buyer was early.
CPI on Tuesday is the next test.
#ETH #OnChain #WhaleWatch #CryptoMarket
NFA
Per Lookonchain, a dormant whale withdrew 34,601 $ETH (about $73.75M) from Binance over roughly 3 hours today. ETH trades near $2,094 on Binance, down about 6.5% in 24h, after tagging $2,060 on Sunday. Yesterday I said a break of the $2,206 floor likely meant a trip to $2,174 and it went straight through.
My read: big exchange outflows during a flush usually mean coins heading to cold storage, not to a sell button. One whale doesn't fix the trend though. I'd want ETH back above $2,206 before calling a bottom, and a daily close under $2,060 means this buyer was early.
CPI on Tuesday is the next test.
#ETH #OnChain #WhaleWatch #CryptoMarket
NFA
