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Whales dump thousands of ETH, yet the market remains completely unmovedโMulti-coin's trump card is tougher than expected๐
Tonight, on-chain data anomalies, a few order screenshots make your scalp tingle:
ยท ETH/USDT perpetual, selling 4,447 ETH, average transaction priceโฆโฆ
ยท Next, selling 976 ETH
ยท Then, dumping 4,284 ETH
ยท Still going, 2,763 ETH continues to be sold
ยท Plus, 32 BTC are also being fully liquidated simultaneously
Throwing thousands of ETH into the market, in any past bear market, the market would have already crashed beyond recognition.
But guess what?
ETH not only didnโt fall, it actually became more resilient the more it was sold.
Multi-coinโs capacity to absorb orders is ridiculously strong.
The order book looks like layers of steel plates; after the whales smash through, prices even slightly rebound.
What does this indicate?
1. The contract multi-coin has extremely strong control over the market, and leveraged longs are not scared away.
2. The spot buy-side depth remains, and some funds are actively absorbing the sell-off chips.
3. The bull market structure remains intactโthe true top will not appear during the phase of โwhales making big moves but unable to push down.โ
Remember:
If both the bears and whales canโt push the price down, then the only remaining path isโupward.
The bull market is not over.
Those thousands of ETH sell orders are just fuel for the bulls.
This article is an original analysis by โHaar H.โ
To check on-chain data for other tokens.
๐ Leave the token name in the comment section, Iโll help you look it up.
Follow โHaar Hโ to understand the truth behind the chain. $ETH