Recent events in the Ethereum market indicate significant changes in investor behavior, including massive withdrawals of ETH from exchanges and notable price fluctuations.
Massive Withdrawals of ETH from Exchanges
Amid the rising prices of Ethereum, investors have begun actively withdrawing ETH from centralized exchanges. According to analyst Ali Martinez, 200,000 ETH were withdrawn in just two days, equivalent to nearly $1 billion at current asset prices. Such actions typically reduce selling pressure and may support further price increases.
> 200,000 Ethereum [$ETH] withdrawn from exchanges in just 48 hours! — Ali Martinez
CME Gap Filled and Altseason Prospects
The cryptocurrency market, unlike the traditional financial market, is open 24/7, which can lead to the formation of certain gaps on charts. As a result of ETH's recent rise, a gap appeared on CME futures, and analysts believe it needed to be filled before the asset could continue its rally. According to Rekt Capital, the gap has been successfully filled, and ETH is displaying positive momentum.
> Ethereum has successfully filled its Weekly CME Gap and reversed to the upside from it. — Rekt Capital
Analysts' Opinions on ETH's Future
Analysts, while analyzing recent charts, express optimism that Ethereum could enter an altseason phase. One analyst, Satoshi Flipper, noted that from observing the 3-day ETH/BTC chart, 'the eagle has landed,' suggesting a potential start of vigorous growth for altcoins in the market.
> The eagle has landed, I repeat, the eagle has landed. — Satoshi Flipper
Thus, recent events concerning ETH withdrawals, successful closure of the CME gap, and positive analyst predictions may indicate the beginning of a new growth phase for Ethereum and the entire altcoin market.
