Is Ethereum Foundation’s Latest $130M Move Bullish or Bearish?
The post Is Ethereum Foundation’s Latest $130M Move Bullish or Bearish? appeared on BitcoinEthereumNews.com.
ETH price opened trading around the $2,630 level on Feb 10, entering a 3-day stagnation phase. Historical data suggests Ethereum Foundation’s latest 50,000 ETH transaction could potentially spark volatile market reactions in the week ahead. Ethereum Price Settles at $2,600 as Bearish Pressure Subsides Ethereum (ETH) has struggled to gain momentum in the first week of February, facing multiple bearish catalysts. Internal challenges, including controversial network updates and an increasing circulating supply, have hindered bullish advances. Additionally, macroeconomic headwinds from the U.S.-China trade war have exacerbated the downturn. Ethereum Price Action (ETHUSD) | Source: TradingView Between February 1 and February 7, ETH price experienced a sharp 20% decline, dropping from $3,300 to the $2,600 level. Since February 7, the downward momentum has halted as selling pressure has eased considerably. However, despite this stabilization, ETH has yet to stage a meaningful recovery from last week’s losses. While other top altcoins like Binance Coin (BNB) and Solana (SOL) have posted gains over the weekend, ETH has remained stagnant within a tight $2,500 to $2,700 range. This consolidation closely mirrors Bitcoin’s price hiatus, highlighting investor indecision and a wait-and-see approach among traders. Ethereum Foundation Spotted Moving 50,000 ETH, Sparking Speculation Ethereum’s stagnation over the weekend coincided with shifting investor focus towards the broader altcoin market. While Bitcoin’s price inactivity has been attributed to a miner sell-off, as highlighted by Capriole Investments founder Charles Edwards, ETH’s sideways movement appears to be influenced by recent Ethereum Foundation transactions. On February 9, blockchain security and analytics platform PeckShield flagged a significant transaction involving the Ethereum Foundation—the organization responsible for overseeing the network’s operations and development. “#PeckShieldAlert The Ethereum Foundation has transferred 50,000 $ETH (worth ~$131.6M) to EF: DeFi Multisig for supporting and participating in the Ethereum DeFi ecosystem.” – PeckshieldAlert, Feb 9, 2025. Notably, PeckShield clarified…
Filed under: News - @ February 10, 2025 2:21 am