$ETH The story here is “ETFs are selling, whales are buying.” According to COINOTAG, U.S. spot Ethereum ETFs saw a record net outflow of $1.61 billion in October; last Friday alone, they saw outflows of about $156 million (RTTNews).
On the other hand, Bitmine bought another 8,573 ETH last week, bringing its total holdings to 6.06 million ETH. ETH is hovering around $2,250 today, slightly down over the past 24 hours. The broader market is also weak, with only 55 of 258 coins rising (TradingGain).
My interpretation: traditional investors are pulling out, while long-term buyers such as “ETH treasuries” are stepping in. This kind of divergence usually means prices may move sideways for a while. Devcon 8 opens in Mumbai next, so it’s worth watching for any new tech narratives.
#ETH #以太坊 #Bitmine
For reference only; this is not investment advice.
On the other hand, Bitmine bought another 8,573 ETH last week, bringing its total holdings to 6.06 million ETH. ETH is hovering around $2,250 today, slightly down over the past 24 hours. The broader market is also weak, with only 55 of 258 coins rising (TradingGain).
My interpretation: traditional investors are pulling out, while long-term buyers such as “ETH treasuries” are stepping in. This kind of divergence usually means prices may move sideways for a while. Devcon 8 opens in Mumbai next, so it’s worth watching for any new tech narratives.
#ETH #以太坊 #Bitmine
For reference only; this is not investment advice.