"Smart Money" Dumps ETH Amid Tight Margins: Is the Market Too Hot to Handle?
A wallet with a stellar swing trading success rate of 82.3% has taken advantage of Ethereum’s price surge to unload 1,623 ETH (worth approximately $5.07M) at a price of $3,122, barely breaking even on the trade.
The Bigger Picture:
Over the course of 18 trades, the wallet has amassed a total of 10,528 ETH at an average cost of $3,121.Following this recent sale, the wallet still holds 8,905 ETH, with a meager floating profit of under $10,000.
What’s Next?
Given the slim margins, it’s likely the trader will start selling in batches throughout the day to lock in profits, if any, amidst Ethereum's turbulent trading environment.
Address: 0x6c2a355929ee1262305e385ad49b84fe5f5a4777
Key Takeaway:
With ETH price action becoming increasingly unpredictable, even the sharpest market participants are finding it tough to navigate. Could this be a sign of waning momentum, or are we on the verge of a sharper move?
