This $ETH obliteration is largely caused by capitulation from large funds

Below are the sells from these funds denominated in $ETH

- @paradigm : 46K $ETH ($138M $ETH @ $3000)

- @Grayscale : 372K $ETH ($1.1B $ETH @ $3000)

- @jump_ : 20.2K $ETH ($60m $ETH @ $3000)

While the other two entities hold no significant amounts of $ETH. @Grayscale has >$5B worth of $ETH to potentially unload.

#etherreum #EtheruemETF #Marketsentimentstoday #BTC☀ #BearishPhase