Ethereum Faces Selling Surge and Price Risks Amid Market Challenges
TL;DR Summary
Ethereum experienced a significant sell-off with $321 million sold in one minute, driven by whale and retail selling, causing the price to drop from $2.5K to $2.3K before rebounding to $2.4K. Despite intense selling pressure and negative netflows indicating bearish sentiment, some buyers absorbed the dip, leading to a brief recovery. The ongoing battle between bulls and bears will determine if ETH can reclaim key levels or face further declines.
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