Large holder outflows surpass inflows: recent data reveals large holder outflows of 312,920 ETH, surpassing inflows of 280,700 ETH. this indicates significant profit-taking by whales, contributing to increased sell pressure and bearish sentiment in the Ethereum market. traders should watch these whale activities closely for future price developments.
Bearish sentiment grows with technical patterns: Ethereum’s rise above $4,000 and a forming cup and handle pattern suggest potential retracemnt. the relative strength index indicates bearish divergence, with traders anticipating price drops to $3,315 or $3,050. short positions on ETH have increased, reflecting trader expectations of a bearish market Movement.