$ETH is trading around $3,033, presenting a mixed but promising picture. While a group of whales continue to sell, overall selling pressure is decreasing sharply, combined with positive signal from key market.
๐น 1k-10k ETH Group: This is the most pessimistic group, continuously dumping and pushing the price down since ETH lost the $5,000 mark.
10k-1M ETH Group: Showing quite indifferent, neither accumulating nor dumping strongly Silent Distribution.
๐ธ Despite whales dumping, money flow from two major market are still quietly gathering good.
The index has turned from negative (-0.02) to positive (+0.03) since December 1, indicating that institution are accumulating again.
The Kimchi Premium Index remain above 1, indicating that Asian retail buying is still present, albeit weakening.
๐น The most bullish signal come from the shocking drop in the number of Exchange Depositing Addresses from 106,100 (November 30) to only about 5,197. This show that active selling pressure has almost dried up.
$ETH is at an inflection point. The sharp drop in selling pressure combined with the silent accumulation is creating a solid foundation for the next price increase.
Do you think the cash flow is strong enough to bear the selling pressure of the 1k-10k ETH whale group?
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