$ETH
ETH, BlackRock just wiped out 54,096 Ethereum from Coinbase Prime—surprisingly quick with the sell-off.
Once those tens of thousands of tokens move on-chain, the little bit of ammunition the longs hold instantly loses its appeal, and the funding rate shoots up, cold sweat all over.
Whales are topping up while watching from the sidelines—this order book has no intention of providing any takers.
As long as that thorn of on-chain transfers isn’t pulled out, the longs will have to keep their guard up and keep getting hit.
ETH, BlackRock just wiped out 54,096 Ethereum from Coinbase Prime—surprisingly quick with the sell-off.
Once those tens of thousands of tokens move on-chain, the little bit of ammunition the longs hold instantly loses its appeal, and the funding rate shoots up, cold sweat all over.
Whales are topping up while watching from the sidelines—this order book has no intention of providing any takers.
As long as that thorn of on-chain transfers isn’t pulled out, the longs will have to keep their guard up and keep getting hit.
