The cryptocurrency market is experiencing significant volatility, sparking interest in Ethereum (ETH) among participants. Major investors are actively accumulating tokens, supporting price increases.
Ethereum Withdrawal from Exchanges
Over 1 million Ethereum (ETH) have been withdrawn from exchanges in the past week, indicating potential accumulation by major players and possible reduction in selling pressure.
Traders' Bearish Approach
Despite optimism from major participants, intraday traders are taking an opposite stance. Coinglass data shows that short positions dominate, while long positions are over-leveraged at the $2,568 level.
Current Price Momentum
Ethereum is trading near $2,588, a 4.10% decline compared to the previous day. Trading volume decreased by 17%, indicating lower trader and investor activity.
The accumulation of Ethereum by major investors reflects their long-term optimism, though the overall market trend remains bearish.
