$ETH Panic Selling by Whales: Is Ethereum ($ETH) Nearing the Bottom?
Ethereum’s price has plunged below $3,200, dropping over 13% in 24 hours. 🚨 What’s causing this? Whales are selling massive amounts of ETH, creating panic in the market.
• Whale 1: Sold 31,968 ETH ($122.3M) over two days. 🐋
• Whale 2: Transferred 49,910 ETH ($170M) to Binance, cashing out $137.8M. 💸
Adding to the pressure, the Ethereum Foundation strategically sold 100 ETH at $4,000, continuing their trend of selling at market peaks to fund development. 📉
Analysts predict $2,800 as the next major support level. Will it hold, or will more selling push ETH lower?
For holders, this dip may be nerve-wracking but could also be a buying opportunity. 🌈 Remember, the crypto market is cyclical, and today’s storm may bring tomorrow’s rainbow!
What’s your take on this? 👇