Ethereum Market Cautious as Vitalik Buterin Continues to Cash Out - $QUACK #RichQUACK.
25 Sep 2023, 14:55
š Ethereum Market Cautious as Vitalik Buterin Continues to Cash Out š - $QUACK #RichQUACK
š Ethereum's co-founder, Vitalik Buterin, moves large amounts of $ETH to exchanges, suggesting potential sales.
š Analysts anticipate 1 ETH price to potentially dip to $1,300-$1,500 due to limited buying activity.
š° Despite short-term concerns, Ethereum's long-term prospects seem bullish, especially with staking reaching new highs.
Details:
š¦ Recent data reveals Vitalik deposited 400 ETH (~$632,000) on Coinbase.
š« Absence of buying pressure noted by @Ali_Charts ; large ETH whale balances have reduced.
š Analyst "Immortal Crypto" predicts further price drops for Ethereum in the near future.
š Some believe ETH will eventually outdo BTC, but the journey might differ from past trends.
ā ļø CryptoQuant alerts potential short squeeze for Ethereum. Negative funding rates observed which can hint at further price drops.
š Current ETH price status: Dropped to $1,570 earlier today, currently around $1,580.
š Historically, October is usually bearish for stocks and crypto.
š Bright side: Ethereum staking achieves new milestones, signaling a positive long-term outlook.