Ethereum Exchange Outflows Hits 2-Month High With $1.4 Billion Withdrawn, What This Means
Over $1.4 billion worth of Ethereum (ETH) has been withdrawn from crypto exchanges, indicating a significant shift in investor behavior. This large outflow suggests that investors are moving ETH to private wallets, likely intending to hold rather than sell. Approximately 74% of ETH investors have held their assets for over a year. The last comparable outflow occurred in November 2024. Despite Ethereum's price volatility, the trend shows investors are retaining their holdings, possibly anticipating future price increases. CryptoQuant reported a decrease in selling pressure, with net flows remaining negative. Inflows increased by 43.07%, while outflows surged by 57.35%. Additionally, Ethereum Spot ETFs experienced a net outflow of $68.47 million. An analyst predicts a bearish price trend for Ethereum, forecasting potential declines to $2,841, $2,660, and $2,555 based on Elliott Wave theory.
