Tense hours in Ethereum (ETH): altcoins may fall!
Despite Bitcoin reaching $107,000, #Ethereum (ETH), which remains weak, has begun to pose a threat to altcoins.
While #Bitcoin sets records, Ethereum (ETH) continues to be depressed. The leader of altcoins, $ETH , is on the agenda with selling pressure and a loss of interest from whales.
Recently, Ethereum increased by more than 15 percent to $4,100. Although the $4,100 level was seen for the first time since March 2024, the price faced intense selling pressure here and pulled back. Historically, ETH has reached this level five times and each time faced selling pressure.
According to CryptoQuant data, long-term investors and whales continue to transfer their Ethereum to exchanges. The increase in reserves on exchanges indicates that selling pressure is rising. According to the data, reserves on exchanges have increased by approximately 100,000 ETH in a recent period. This amount is equivalent to 400 million Ethereum at current prices, which could lead to increased selling pressure.
