77,000 ETH entered Ethereum derivatives exchanges. Previously, there was a price decline after similar entries. The market is nervous about a new wave of selling.
On-chain analytics platform CryptoQuant shared a piece of data that made Ethereum investors nervous. On April 16, there was a huge inflow of 77,000 ETH (yaklaşık 120 million dolar) into derivatives exchanges. This level stands out as the largest net inflow recorded in March and April.
Analyst Amr Taha said the entry was similar to similar moves seen earlier. High inflows on March 26 and April 3 resulted in sharp declines in the price of ETH**. This is interpreted as investors sending ETH to derivatives exchanges, opening short positions or applying a hedge strategy.
In addition, there is concern in global markets. China's imposition of new tariffs in response to U.S. chip and electric vehicle restrictions has created selling pressure on risky assets. These developments could also trigger a flight to safe havens in the cryptocurrency markets.
Ethereum is currently trading at multi-month lows (~1,500 dolar). Increased ETH transfers to derivatives exchanges may indicate that institutional investors are taking positions in anticipation of a decline. In the light of historical data, the possibility of a new bearish wave in the market is not ruled out.
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Inflows of 77 thousand in Ethereum are scary: It has dragged the price to the bottom 2 times before! - Coin Newsletter
77,000 ETH entered Ethereum derivatives exchanges. Previously, there was a price decline after similar entries. The market is nervous about a new wave of selling.
On-chain analytics platform CryptoQuant shared a piece of data that made Ethereum investors nervous. On April 16, there was a huge inflow of 77,000 ETH (yaklaşık 120 million dolar) into derivatives exchanges. This level stands out as the largest net inflow recorded in March and April.
Analyst Amr Taha said the entry was similar to similar moves seen earlier. High inflows on March 26 and April 3 resulted in sharp declines in the price of ETH**. This is interpreted as investors sending ETH to derivatives exchanges, opening short positions or applying a hedge strategy.
In addition, there is concern in global markets. China's imposition of new tariffs in response to U.S. chip and electric vehicle restrictions has created selling pressure on risky assets. These developments could also trigger a flight to safe havens in the cryptocurrency markets.
Ethereum is currently trading at multi-month lows (~1,500 dolar). Increased ETH transfers to derivatives exchanges may indicate that institutional investors are taking positions in anticipation of a decline. In the light of historical data, the possibility of a new bearish wave in the market is not ruled out.