Analysis: Whale Exodus Concerns Trigger Market Volatility, ETH Temporarily Dips and Now Fluctuates in the $2500 Range
According to Jinse Finance, the price of ETH briefly dropped to $2,500 but then rebounded, with trading volume significantly increasing around midnight. In the last hour, over 48,000 ETH were traded within two minutes, causing the price to fall below the support range of $2,515-$2,520.
On-chain data shows that approximately 385,000 ETH flowed into centralized exchanges like Binance, sparking speculation that institutional investors might be reducing their holdings. Currently, the ETH price is fluctuating around the $2,500 range, which is considered a key psychological and technical support level.
Additionally, global trade tensions and the risk of U.S. tariffs have heightened market risk aversion, causing the digital asset market to begin fluctuating in sync with traditional markets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
As Bitcoin Fell, a Billion-Dollar Gap Emerged at Michael Saylor’s Company—What Are the Costs Per BTC?
Tesla opens Cybercab purchases to invited individuals, starting at $29,990, with the first deliveries in December.
Tesla has officially opened reservations for the steering wheel-free Cybercab to individual consumers, with a starting price of $29,990 and the first deliveries scheduled for December 2026. This driverless two-seater electric vehicle will become Tesla’s lowest-priced model, and Elon Musk is even willing to halt production of the Cybertruck to prioritize it. However, the NHTSA has launched an investigation, and regulatory uncertainties may cast doubt on the commercialization of autonomous driving.
A certain exchange suspends KAVA deposit and withdrawal services
Don't be scared by the Nvidia turmoil and election noise! Morgan Stanley: AI turbulence does not change the main driver of the bull market, long-term outlook remains "extremely bullish"
The Chief Investment Officer of Morgan Stanley Wealth Management stated that management turmoil at Nvidia and the Democratic Party's victory in the midterm elections have further heightened market concerns about the AI sector. However, these factors will not shake the core driving force of this bull market—capital expenditure on AI infrastructure.
Crypto prices
More
