Let’s break it down from a positioning perspective: ETH/BTC fell below 0.03, and a major whale has rotated a total of 27,500 ETH
When the news broke, two things usually happened in the market at the same time:
· Funds that positioned themselves early were looking for an opportunity to exit
· Traders who only came in after seeing the news were starting to enter
Which side has more buying or selling power determines the price direction. $ETH 24h Trading volume was $845 million; watch for any unusual surge in turnover.
#ETH
When the news broke, two things usually happened in the market at the same time:
· Funds that positioned themselves early were looking for an opportunity to exit
· Traders who only came in after seeing the news were starting to enter
Which side has more buying or selling power determines the price direction. $ETH 24h Trading volume was $845 million; watch for any unusual surge in turnover.
#ETH