Crypto whales have sold off over $8.5 billion worth of Ethereum, leading to a negative sentiment in the market. The reasons behind the massive sell-off are speculative, including profit-taking, concerns about the broader market, or strategic portfolio realignment. Analysts are observing Ethereum’s immediate future, with the cryptocurrency hovering above a critical demand zone. There is a warning for investors and traders to remain vigilant, as a daily close below the $1,530 mark could indicate a sharp correction in Ethereum’s value. The analyst also suggests a potential 5% correction in Bitcoin, possibly heading to $26,200.
AI Sentiment: Negative