Ethereum

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereums-value-fluctuates-following-ftx-and-alamedas-heavy-transactions" rel="noopener noreferrer nofollow">Ethereum’s Value Fluctuates Following FTX and Alameda’s Heavy Transactions</a><br></p>
<p style="text-align: justify">The recent bankruptcy of <a href="https://en.bitcoinhaber.net/crypto-markets-brace-for-volatility-key-developments-and-economic-indicators" rel="noopener noreferrer nofollow">cryptocurrency</a> giants FTX and Alameda Research has piqued market interest due to their substantial <a href="https://en.bitcoinhaber.net/experts-weigh-in-on-the-chances-of-ethereum-etf-launch" rel="noopener noreferrer nofollow">Ethereum</a> (ETH) transactions, which analysts suspect may have influenced ETH’s market price. The companies’ latest moves are believed to have played a significant role in the digital currency’s recent depreciation.</p>
<h2 id="markets-scrutinize-high-volume-ethereum-transfers">Markets Scrutinize High-Volume Ethereum Transfers</h2>
<p style="text-align: justify">Spot on Chain, an on-chain analytics firm, reported that a combined total of 6,500 ETH worth approximately $24.57 million was moved by FTX and Alameda Research to the <a href="https://en.bitcoinhaber.net/poloniex-to-resume-services-after-100-million-hack-announces-airdrop-campaign" rel="noopener noreferrer nofollow">Coinbase</a> exchange platform. This transfer has sparked discussions among market analysts about its impact on Ethereum’s pricing trends.</p>
<p style="text-align: justify">These entities have been particularly active in Ethereum’s market, with transactions including the substantial Coinbase transfer and the move of additional assets worth $6.26 million. Notably, the value of Ethereum has seen a consistent decline following these transactions, leading to speculation about a direct effect on the cryptocurrency’s volatility.</p>
<h2 id="correlation-between-major-transactions-and-price">Correlation Between Major Transactions and Price</h2>
<p style="text-align: justify">A closer examination of the recent activities by FTX and Alameda Research uncovers a striking correlation with Ethereum’s price changes. Graphical data suggests that these transactions could be influencing the market value of ETH, potentially swaying prices in the short term.</p>
<p style="text-align: justify">Technical analysis of the Ethereum market reveals a prominent downtrend with resistance levels near $3,850, aligning with the 50 percent Fibonacci retracement level, posing challenges for bullish progression. Should ETH break above $3,880, it may regain momentum towards the $4,000 threshold. Conversely, if it fails to climb past $3,850, we could see a decline towards the support levels at $3,680 or even down to $3,350, signaling a deeper bearish trend.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereums-value-fluctuates-following-ftx-and-alamedas-heavy-transactions" rel="noopener noreferrer nofollow">Ethereum’s Value Fluctuates Following FTX and Alameda’s Heavy Transactions</a></h5>

Ethereum’s Value Fluctuates Following FTX and Alameda’s Heavy Transactions

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