Ethereum falls below $2,500: Price bottom not yet in place?
Are investors selling ETH?
AMBCrypto’s analysis of Santiment data shows that the supply of ETH on exchanges is increasing. The rise in this indicator indicates that investors are selling more.
In addition, Ethereum’s exchange inflows have also increased significantly, further proving that selling pressure is high.
Lookonchain recently published a tweet highlighting an interesting development. A whale with a good track record sold 5,088 ETH worth $13.58 million, a loss of $3.66 million. Does this mean that the price of ETH will plummet further?
Interestingly, AMBCrypto’s observation of Glassnode data shows that ETH is already trading well below its possible market bottom.
According to the Pi Cycle Top indicator, Ethereum’s market bottom is located at $32,000. This shows that the possibility of a bullish acquisition cannot be ruled out.
