The price of $ETH has skyrocketed, whales are buying in large quantities, which may challenge the historical high of $4800!
Currently, the price of ETH has soared to $3928, thanks to the efforts of the whales. They are sweeping up assets on exchanges, putting significant pressure on the market.
Moreover, the inflow of funds into Ethereum ETFs has also hit a new high for seven consecutive days, indicating a strong momentum that could potentially push the price to new peaks.
The recent behavior of the whales is quite interesting; those holding a large amount of ETH are reducing their positions, while smaller whales are continuously increasing theirs.
This could likely indicate that tokens are flowing from institutions to the retail market, meaning they are coming into our hands. If this trend continues, the price is bound to rise further.
Looking at the circulating supply and the inflow of staked ETH, the situation appears to be quite positive. The circulating supply is decreasing, indicating an increase in the destruction of ETH. The influx of staked ETH is also strengthening, as everyone is holding long-term, which naturally reduces selling pressure.
The U.S. spot Ethereum ETF is also experiencing continuous net inflows, suggesting that institutions are optimistic about Ethereum.
Although Grayscale's Ethereum Trust has seen some capital outflows recently, overall, the increase in institutional buying activity has kept the net inflow at a high level.
ETH is currently at a critical moment; if it can break through that key resistance, the price can continue to rise and test that historical high of $4800.
If it does break through, that would be impressive, as the cup and handle pattern would be validated, ensuring a long-term rebound.
However, if the price drops below $3400, the situation could become precarious, and support needs to be found quickly.
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$BTC $XRP
#BTC新高10W #下一个换谁涨？ #历史见证者打卡 #微策略持续增持BTC #美国合规概念币走扬
Currently, the price of ETH has soared to $3928, thanks to the efforts of the whales. They are sweeping up assets on exchanges, putting significant pressure on the market.
Moreover, the inflow of funds into Ethereum ETFs has also hit a new high for seven consecutive days, indicating a strong momentum that could potentially push the price to new peaks.
The recent behavior of the whales is quite interesting; those holding a large amount of ETH are reducing their positions, while smaller whales are continuously increasing theirs.
This could likely indicate that tokens are flowing from institutions to the retail market, meaning they are coming into our hands. If this trend continues, the price is bound to rise further.
Looking at the circulating supply and the inflow of staked ETH, the situation appears to be quite positive. The circulating supply is decreasing, indicating an increase in the destruction of ETH. The influx of staked ETH is also strengthening, as everyone is holding long-term, which naturally reduces selling pressure.
The U.S. spot Ethereum ETF is also experiencing continuous net inflows, suggesting that institutions are optimistic about Ethereum.
Although Grayscale's Ethereum Trust has seen some capital outflows recently, overall, the increase in institutional buying activity has kept the net inflow at a high level.
ETH is currently at a critical moment; if it can break through that key resistance, the price can continue to rise and test that historical high of $4800.
If it does break through, that would be impressive, as the cup and handle pattern would be validated, ensuring a long-term rebound.
However, if the price drops below $3400, the situation could become precarious, and support needs to be found quickly.
For essential information in the crypto space, tap the profile picture and follow me for more updates.
$BTC $XRP
#BTC新高10W #下一个换谁涨？ #历史见证者打卡 #微策略持续增持BTC #美国合规概念币走扬