Ethereum Chart: Exchange Netflow (Total) - Binance from CryptoQuant is showing notable signals regarding short-term ETH fund flows:

Inflow Spike: During the first half of May, Binance continuously recorded positive Netflow columns with large amounts of $ETH deposited onto the exchange. This indicates that a significant supply has been pushed onto the exchange, ready for profit-taking or stop-loss selling pressure.

Price Reaction: Immediately following these large net inflows, the ETH price line (Price USD) reacted negatively, dropping from the near $2.4K region to the current milestone around $2.1K.

Current Outlook: Although $ETH deposit pressure has cooled down over the past few sessions, it shows that the market needs more accumulation time to fully absorb the recent supply before finding a new equilibrium point for $ETH.

Written by Rei Researcher