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Big Turmoil in the Crypto World! Ethereum Sees 600,000 Coins Withdrawn by Whales, Is the Next Bull Market Coming?
Family, let's talk about the recently bustling crypto market. There are significant changes in Ethereum's fundamentals, the exchange inventory chart shows deep pits, and 600,000 Ether have been transferred to cold wallets by whales, which could be a signal of a trend reversal.
The regular pattern in the crypto market typically sees a rebound after three months of correction. In the major bear market of 2021, ETH fell from November to the end of January, then rebounded; last year it fell from May to August as well. Now, ETH has fallen for three months since last December, and the weak hands have already cut their losses. With the upcoming Prague upgrade and the negative impact of Trump's tariffs potentially ending on April 1, there is a good chance to rebound to 3,000, and it’s also likely for the bear market to rebound to around 2,800 or over 3,000.
Bitcoin has surpassed its previous high of 69,000, rising 60% to 110,000, while Ethereum hasn't even reached its previous high of 4,900, leaving many trapped; fortunately, I cashed out at 260 and 290.
Currently, Ethereum is at a low level, with strong consensus support around 1,700. The last bull market quickly rebounded from 4,000 to 1,700. So, don’t cut losses at just over 1,000; wait for the rebound before running. My target is to first see 2,800, at which point I will withdraw leverage and hold spot until the Prague upgrade, hoping for a rise to 3,200 or even 4,000 to recover and profit.
Family, let's talk about the recently bustling crypto market. There are significant changes in Ethereum's fundamentals, the exchange inventory chart shows deep pits, and 600,000 Ether have been transferred to cold wallets by whales, which could be a signal of a trend reversal.
The regular pattern in the crypto market typically sees a rebound after three months of correction. In the major bear market of 2021, ETH fell from November to the end of January, then rebounded; last year it fell from May to August as well. Now, ETH has fallen for three months since last December, and the weak hands have already cut their losses. With the upcoming Prague upgrade and the negative impact of Trump's tariffs potentially ending on April 1, there is a good chance to rebound to 3,000, and it’s also likely for the bear market to rebound to around 2,800 or over 3,000.
Bitcoin has surpassed its previous high of 69,000, rising 60% to 110,000, while Ethereum hasn't even reached its previous high of 4,900, leaving many trapped; fortunately, I cashed out at 260 and 290.
Currently, Ethereum is at a low level, with strong consensus support around 1,700. The last bull market quickly rebounded from 4,000 to 1,700. So, don’t cut losses at just over 1,000; wait for the rebound before running. My target is to first see 2,800, at which point I will withdraw leverage and hold spot until the Prague upgrade, hoping for a rise to 3,200 or even 4,000 to recover and profit.
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