Ethereum

Shiba

Compound

Bitcoin

Pepe

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-whale-actions-cause-anxiety" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Whale Actions Cause Anxiety</a><br></p>
<p style="text-align: justify">The cryptocurrency world is currently gripped with uncertainty following significant movements by a crypto whale. This whale transferred 12,374 ETH to Compound and borrowed $31.4 million in stablecoins. Concerns have escalated as Ethereum’s price could drop to $2,984, potentially liquidating the whale’s long positions. Over the past four days, Ethereum has plummeted from $3,500 to $3,124, a decline of more than 10%, sparking fears of further depreciation.</p>
<h2 id="what-are-the-implications-of-falling-ethereum-and-bitcoin">What Are the Implications of Falling Ethereum and Bitcoin?</h2>
<p style="text-align: justify">As the cryptocurrency market faces downturns, some whales are attempting to capitalize on the situation. In a notable transaction, one whale acquired over $30 million worth of 9,425 ETH from <a href="https://en.bitcoinhaber.net/binance-expands-trading-options-with-10-new-altcoin-pairs" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, with the total transactions linked to this whale reaching approximately $120 million.</p>
<p style="text-align: justify">In addition to Ethereum, this whale’s portfolio includes high-volume coins like BNB, MATIC, LINK, and AVAX, along with popular meme coins such as Shiba Inu, Dogecoin, Pepe Coin, and Floki.</p>
<h2 id="why-are-bitcoin-and-ethereum-declining">Why Are Bitcoin and Ethereum Declining?</h2>
<p style="text-align: justify">It appears Ethereum’s decline is linked with Bitcoin’s downward trend. Reports indicate large <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> and miners are driving Bitcoin’s descent. Market analyst Charles Edwards pointed out that long-term Bitcoin holders are actively selling their assets.</p>
<p style="text-align: justify">Data from Glassnode shared by Edwards reveals a negative flow of 374,000 Bitcoin, equivalent to approximately $24 billion, moving towards exchanges.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">Investors should consider the following:</p>
<ul>
 <li>Watch for the $2,984 level as a critical point for Ethereum’s potential liquidation.</li>
 <li>Follow whale activities closely, as they can significantly impact market trends.</li>
 <li>Monitor Bitcoin movements, as they often influence Ethereum prices.</li>
</ul>
<p style="text-align: justify">The potential liquidation of the Ethereum whale, with millions at stake, could heighten market fears. A drop to $2,984 could lead to deeper declines and more substantial liquidations.</p>
<p style="text-align: justify">Despite recent declines, Ethereum remains supported at the $3,200 level after a 5% drop today. ETH’s market cap has fallen to $376 billion, with trading volumes hitting $20.7 billion.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/crypto-whale-actions-cause-anxiety" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Whale Actions Cause Anxiety</a></h5>

Crypto Whale Actions Cause Anxiety

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