[Analysis] "Ethereum long-term holders expanding selling pressure... Growing concerns over bear market?"

It has been analyzed that selling pressure from Ethereum (ETH) long-term holders is increasing again, raising concerns about a bearish trend in the market.

On the 21st (local time), cryptocurrency-specialized media outlet BeInCrypto cited data from on-chain analytics firm Glassnode, reporting that "Ethereum long-term holders are increasingly selling off their holdings." According to Glassnode, Ethereum's Liveliness indicator reached an all-time high of 0.69. This indicator reflects the propensity to sell; a higher figure indicates intensified selling activity.

The outlet stated, "Ethereum's Chaikin Money Flow (CMF) indicator has also dropped to -0.08, showing that buying momentum in the market is weakening," and added, "As capital inflows decrease, selling pressure prevails in the short term."

Furthermore, it said, "If selling pressure continues, the price of Ethereum may fall further to $2,185 or even $2,027. However, if new buying momentum is introduced, this bearish trend could reverse, possibly recovering to around $2,745."

As of 21:27 on this day, ETH was trading at $2,441 on the Binance USDT market, down 4.25% from the previous day.