The post Whales Begin Dumping Ethereum as Large Holder Netflow Surges! How Low Can ETH Price Go? appeared first on Coinpedia Fintech News
The ‘Uptober’ momentum in the market is currently dimming, with both Bitcoin and Ethereum retracting from pivotal price points. This downturn was somewhat expected as whales sought to capitalize on opportunities to secure their profits and make a market exit. As a result, the price of ETH has dipped perilously close to its breakout point, leaving traders in confusion regarding its upcoming trajectory.
Whales Made A Massive Inflow
Whales have ultimately unveiled their pump and dump strategy, highlighting the Uptober trend. Today, Ethereum’s price experienced a significant long-liquidation and a surge in inflow, indicating that whales have exited, securing their profits.
Coinglass data reveals that $28 million worth of long positions were liquidated today after the ETH price declined below $1,725. As a result, it intensified the selling pressur
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