All articles tagged with #sell pressure
Bitcoin's current price stability masks underlying weaknesses, including declining demand, rising miner profits, overvaluation signals, and increased exchange inflows, all suggesting a potential pullback if demand does not recover soon.
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.
Crypto exchanges received a net inflow of 179,500 ETH, worth $375 million, in the four days after Ethereum's Shanghai upgrade went live, according to CryptoQuant. The largest four-day net inflow in a month, this indicates that traders are preparing to sell, which may lead to a price decline. Since the upgrade, some traders have sold ETH during the price rally post-Shanghai. Coinbase recorded $28 million more sell orders than buy orders, and Binance's upcoming withdrawal feature could result in more sell pressure for ETH.