Summary
- Today, more than 77,000 Ethereum (ETH) flowed into derivatives exchanges, indicating a high possibility of decline.
- It was noted that institutional investors or Ethereum whales are trying to increase their hedge or short positions, requiring caution.
- On the Binance USDT market, Ethereum is trading at $1,593, down 1.98% from 24 hours ago.
Today, it was reported that more than 77,000 Ethereum (ETH) have flowed into cryptocurrency derivatives exchanges. As a result, there are observations that the possibility of Ethereum's decline has increased.
On the 16th (local time), Amar Taha, a contributor to CryptoQuant, stated in a report, "Today, more than 77,000 Ethereum have flowed into derivatives exchanges," and added, "It seems that institutional investors or Ethereum whales are trying to increase their hedge or short positions." He further suggested, "In the past, when similar situations occurred, Ethereum showed a downward trend," indicating that the possibility of Ethereum's decline could increase.
Previously, on March 26 and April 3, 65,000 ETH and 70,000 ETH respectively were also reported to have flowed into derivatives exchanges.
As of 11:42 PM, Ethereum is trading at $1,593 on the Binance USDT market, down 1.98% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Market] Bitcoin breaks below $70,000… Korea premium at 0.31%](https://media.bloomingbit.io/PROD/news/74018332-717e-4495-9965-328fe6f56cb4.webp?w=250)
