$ETH Whale selling may cause ETH price to fall below $2,800!
ETH price plummeted by more than 11% in just 24 hours, falling directly below $3,200, all because ETH's big holders and foundations were selling.
Especially after ETH fell below the important price of $3,500, many people who were bullish before suffered, and their positions were liquidated in large quantities.
In this wave of decline, Ethereum's big holders have made an indelible contribution. Seeing that the market as a whole was falling, they decided to withdraw quickly, sell all the ETH in their hands, and exchange them for stablecoins to repay debts.
One big holder deposited more than 20,000 ETH in Binance at once, worth more than $77 million, and then withdrew stablecoins to repay debts. Such operations have been common in the past two days.
In addition to the big holders selling, the Ethereum Foundation was also not idle. They also quietly sold a lot of ETH at the peak of the market.
This caused the market to panic, causing the price of Ethereum to plummet.
Now market analysts are quite pessimistic about Ethereum. They think ETH may continue to fall to around $2,800 before rebounding.
However, some bulls think that as long as ETH can break through $4,100, its price will rise wildly and hit a record high.
But although the big players are selling, there are still many people who are bullish in the market. From the options data, it can be seen that there are more bullish positions than bearish ones.
Everyone is staring at the price of $3,750 and thinks it is a critical point.
The current situation of Ethereum is that it has fallen badly. The price has fallen to $3,200 and the market value has fallen below $400 billion.
Many investors have lost a lot of money, and the amount of liquidation has also risen wildly. However, the market is always ups and downs. Maybe next time, Ethereum will bring us a surprise.
For the next layout direction, I will lead everyone to aim at the huge profit opportunities of copycats. There is no problem in expecting more than 10 times the space. Like + leave a message, and I will lead you to layout the entire bull market!
