Santiment analysts found a contradiction in the actions of market players regarding ETH and USDT. Withdrawals from exchanges occur simultaneously for both this volatile asset and this stablecoin:
- Ethereum and Tether have huge levels of withdrawal of coins from exchanges.
- 346 million USDT withdrawal from exchanges: the highest outflow in 5 months.
- 80,763 ETH withdrawal from exchanges: the highest outflow in 2 months.
It is traditionally believed that the withdrawal of volatile assets from exchanges is a bullish signal. And the withdrawal of stablecoins from exchanges is a bearish signal.
The first speaks of lower risks of future sales of #ETH, the second speaks of less purchasing power of traders at the moment.
The case when#Santiment(like us) found data, but don’t know how to interpret it and what to do with it 😁🤔
The only reasonable conclusion is that the market is suspended and in uncertainty. The crowd needs an impulse that will bring them to their senses and help them understand the trend.
