Ethereum at Risk? Whale Activity and On-Chain Signals Hint at Further Correction
Ethereum's price has declined by 3.2% to $2,621, influenced by geopolitical developments and the reinstatement of tariffs by the US federal court. Despite this pullback, ETH is up approximately 45% over the past month. A significant inflow of about 385,000 ETH to Binance on May 27 has raised concerns about potential profit-taking and increased selling intent, particularly among larger holders. Bitcoin's Net Unrealized Profit/Loss (NUPL) metric has approached a historical pivot point at 0.6, often associated with market cooling and price consolidation. These indicators suggest that market participants are adjusting positions amid uncertainty, with the potential for short-term corrections or sideways movement in Ethereum's price. Monitoring exchange inflows and NUPL may help gauge sentiment shifts, while macroeconomic factors could further impact crypto dynamics.
