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Investors are withdrawing ETH from exchanges en masse, the ETFs are getting big attention, and even Bitcoin OGs are swapping BTC for Ethereum’s token.It was less than five months ago when the second-largest cryptocurrency plunged to $1,400, erasing years of gains.
The overall market situation was grim due to Trump’s tariff policy, but ETH seemed to be taking the correction the worst.Ali Martinez provided more promising data for Ethereum’s short-term future, as investors using centralized crypto exchanges had pulled 200,000 ETH out of those platforms within just two days. Such withdrawals reduce the immediate selling pressure, which should, in theory, be bullish for the underlying asset if demand increases or even stays the same.From a USD perspective, this amount is worth close to $1 billion, given ETH’s current price tag of almost $4,800.The crypto market, being open 24/7, often performs faster than the traditional financial industry, and this leaves some weekend gaps for digital assets that trade on legacy platforms. Due to ETH’s surge in the past few weekends, it left a gap on the CME futures, and many analysts believe it had to be closed before the asset could resume its rally. According to Rekt Capital, the weekly CME gap has been filled and ETH has “reversed to the upside from it.”Satoshi Flipper also weighed in on ETH’s recent performance, especially against the market leader. After observing the 3 Day ETH/BTC chart, the analyst concluded that the “eagle has landed,” as it’s shaping up for a “glorious” altcoin season.Position wisely and don’t get caught sidelined, this is all shaping up for a GLORIOUS ALT SEASON + ENDING to the cycleInside ETHZilla’s Master Plan to Build a True Ethereum Yield Curve One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
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