Justin Sun transferred a large amount of money to Binance, triggering speculation about ETH bottom-fishing
Recently, the Tron address TT2T...kU9N of Tron founder Justin Sun (Justin Sun) transferred 89.57 million USDT to Binance Exchange, triggering market speculation that he bottom-fished Ethereum. Sun's previous performance in the Ethereum market has always attracted much attention, and his unique investment vision and strategy have also been recognized by the market.
Yesterday, there were some abnormal movements in the Ethereum market. The hourly line increased in volume and fell after touching the Bollinger upper rail, reaching a maximum of US$3,587. Then it fluctuated near the middle rail, the oscillation range narrowed, and the dead cross signal was forcibly flipped. The fast and slow lines adhered above zero and slowly moved closer to the zero axis, showing signs that someone in the market was oscillating and absorbing funds.
In addition, Ethereum's recent good news also provided support for its independent market. The expectation of ETFs in July and the SEC's abandonment of its review of Ethereum have provided momentum for Ethereum's rise. In this case, Sun's transfer behavior undoubtedly added more imagination to the market.
More bull market layout strategies are close to the main business!
However, we should also look at this incident rationally. Although Sun Yuchen's transfer behavior may be related to the Ethereum market, whether he will really bottom out Ethereum needs further observation. The market is unpredictable, and any prediction is uncertain.
