The post Over 900K Ethereum Withdrawn From Exchanges In 10 Days – Bullish Surge On The Horizon? appeared on BitcoinEthereumNews.com.

Ethereum has been struggling to reclaim the $2,800 mark as support, leaving investors uncertain about the short-term direction of its price. The second-largest cryptocurrency has been unable to start a recovery rally, with analysts increasingly calling for a bearish continuation. The negative sentiment has been fueled by Ethereum’s underwhelming performance compared to market expectations, keeping the price range bound below key supply levels. Despite the pessimism, some investors remain hopeful that Ethereum could enter a recovery phase soon. A potential rebound could emerge as the market begins to find stability. Adding to the optimism, top analyst Ali Martinez shared key metrics revealing a significant development: more than 900,000 Ethereum have been withdrawn from exchanges in the past 10 days. This trend signals increased accumulation by larger players and reduced sell pressure, suggesting that investors may be preparing for a potential rally. The substantial withdrawal of ETH from exchanges could indicate growing confidence among long-term holders, even amid short-term price struggles. As ETH continues to consolidate below the $2,800 mark, the next few days will be critical for determining whether it can reverse its bearish trend or face further downside. Investors are watching closely to see if ETH can turn the tide and reclaim higher levels. Ethereum Metrics Signal Strong Accumulation Ethereum is grappling with significant volatility as it consolidates below the $2,800 mark, a crucial level that bulls need to reclaim to initiate a recovery rally. Sentiment in the market remains divided, with retail investors fearing further downside while some analysts anticipate an aggressive rally in the coming months. Ethereum appears to be at a pivotal phase in this cycle, struggling to gain momentum like Bitcoin, which has shown relative strength. Martinez has shared key data shedding light on Ethereum’s current dynamics. Over the past 10 days, more than 900,000…

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Filed under: News - @ February 15, 2025 9:08 pm