ETH whales’ net FLOW has dropped by 73.19%, indicating large investors are unloading positions due to diminished confidence in the short-term price prospects of Ethereum. This sell-off could push prices below 2,558 USD, reflecting a bearish market sentiment.
The Taker-Buy-Sell ratio is at 0.94, showing sell orders surpass buy orders, indicating bearish sentiment. The MACD indicator further confirms the downward trend, suggesting weak demand. Continued selling pressure could send ETH below 3,000 USD.