In the past two months, 60 ETH "whales" have exited the market, indicating a lack of mid-term confidence in the market.

Mars Finance news: On May 20, according to analyst Alicharts, in the past two months, roughly 60 whale addresses holding at least 10,000 ETH have exited their positions. Alicharts says that when different entities holding multi-million-dollar positions leave the network within such a short window of time, it usually signals institutional profit-taking and a reallocation of assets. These large players are taking advantage of recent liquidity to reduce risk, reflecting a clear lack of confidence in the medium-term outlook.

In addition, the decrease in the number of whales matches perfectly with the recent large inflows of funds into exchanges. The data shows that in the short term, the path with the least resistance will still be downward. Therefore, attention should be paid to the $2,000 support level for Ethereum.

ETH0.73%
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