Ethereum Whales Buy the Dip, Withdraw 1M ETH from Exchanges
The overall cryptocurrency market is causing chaos due to large volatility. During this period, whales and investors appear to have added valuable tokens when trading at discount levels.
Today, February 11, 2025, a well-known crypto expert posted on X (formerly Twitter) that Whale chose Ethereum (ETH) as the best investment opportunity, adding millions of dollars in the past week ETH.
1 million Ethereum (ETH) exits communication
In an article on X, experts noted that over 1 million Ethereum (ETH) have been withdrawn from exchanges over the past week. Such a noticeable outflow or token extracted from the exchange seems to indicate potential accumulation, which could create buying pressure and drive further upward momentum.
Additionally, this outflow suggestion is an ideal buying opportunity. However, current market sentiment seems to be bearish, and this massive accumulation may reduce sales pressure.
The bearish way for ETH traders
Despite the perceptions of investors and long-term holders, day traders seem to have taken the opposite approach, as Chain Analytics reported Small shop.
At press time, traders’ betting on the long side seemed exhausted, while those in short positions are currently dominant.
According to the data, traders holding long positions are highly leveraged at $2,568 and have a long position worth $108 million. Instead, traders put their bets on short shares at the $2,690 level, where they hold short positions worth $415 million.
This liquidation data clearly defines current market sentiment, where four times the short position is four times the long position. In addition, short traders have the potential to liquidate long-term positions easily.
Current price motivation
Ethereum The current transaction price is close to $2,588, down more than 4.10% in the past 24 hours. However, during the same period, due to large volatility and large price volatility, the volume fell by 17%, with traders and investors falling in participation compared to the previous day.
