Traders on X say the ETH flush is nearly over.
Cointelegraph flagged it: $ETH has shed $54B in market cap in under three weeks, down about 15%, and open interest just flushed the way it did in July. Last time that happened, ETH ripped 32%.
My take: the tape is split. One smart trader just opened a 26,974 ETH long ($63.88M) and is already up $842K, while the whale holding 93,184 ETH in longs is down $18.62M and just added $5.67M in margin to defend $2,181.
ETH sits at $2,340. Which side is reading this right?
Not financial advice. DYOR.
#crypto #ethereum #ETH
Cointelegraph flagged it: $ETH has shed $54B in market cap in under three weeks, down about 15%, and open interest just flushed the way it did in July. Last time that happened, ETH ripped 32%.
My take: the tape is split. One smart trader just opened a 26,974 ETH long ($63.88M) and is already up $842K, while the whale holding 93,184 ETH in longs is down $18.62M and just added $5.67M in margin to defend $2,181.
ETH sits at $2,340. Which side is reading this right?
Not financial advice. DYOR.
#crypto #ethereum #ETH