Ethereum recently experienced a major event: the number of ETH withdrawn from staking surged to 910,000, a record high, worth $39.1 billion at current prices! Veteran investors, taking advantage of ETH's surge from its April low, frantically cashed out. If these whales were to collectively dump the market, the market would undoubtedly be shaken.
On the other hand, another 268,000 ETH is lining up to enter the market! This new capital is coming from institutions scrambling to buy ETH, driven by favorable regulations. Publicly listed companies like SharpLink and BitMine are not only buying ETH but also directly staking it, clearly signaling long-term optimism. The market is now a tug-of-war: veteran investors are fleeing, driving selling pressure, while new institutions are entering the market to shore up confidence. Whoever has the most power will determine whether Ethereum will plummet or rise again.
More importantly, this exodus coincides with ETH's 80% surge in April! Those whales who built positions below $3,000 are now reaping the rewards above $4,000. Coupled with the recent US SEC raids on staking service providers, regulatory pressure is forcing institutions to reduce their holdings, creating significant market pressure from this double blow.
However, there are also signs of hope: new institutions have bucked the trend by acquiring 260,000 ETH, and BlackRock's ETH spot ETF is about to launch. Historically, ETH skyrocketed 600% after the 2020 Lido staking crisis. When retail investors panic, it's a prime opportunity for institutions to pick up bargains.
In the short term, be wary of a stampede in staking returns: a wave of exits could cause the annualized yield (APY) to plummet below 3%, forcing staking platforms to sell ETH to pay user returns, exacerbating selling pressure. However, in the long term, Ethereum's Cancun upgrade and ETF dual-core drive could usher in a takeoff opportunity once the selling pressure clears by the end of September.
In the short term, it's possible to buy institutional shares in batches in the 3,800-4,000 range.
When should you enter and exit? How to capitalize on strong coins? What's the right take-profit setting? Aunt Shisan always tells her fans on Shequn immediately, "Just follow my thinking and execute what I say, and you'll definitely reap the rewards!"
#加密市场回调 #ETH质押退出动态观察