⚠️ ETH: accumulation or correction?
ETH withdrawals from Binance have risen sharply; the 30-day average has exceeded 90,000 transactions, the highest in about 3 years.
Usually, withdrawing coins from an exchange is considered a positive signal, as potential selling pressure decreases.
But there’s a catch 👀 Previous peaks in this metric have often coincided with local highs of $ETH, after which a correction followed.
In the medium term — accumulation. Locally — a possible sign of overheating.
ETH withdrawals from Binance have risen sharply; the 30-day average has exceeded 90,000 transactions, the highest in about 3 years.
Usually, withdrawing coins from an exchange is considered a positive signal, as potential selling pressure decreases.
But there’s a catch 👀 Previous peaks in this metric have often coincided with local highs of $ETH, after which a correction followed.
In the medium term — accumulation. Locally — a possible sign of overheating.
