CandleFocus 40,000 $ETH Withdrawn from Derivative Exchanges, Signaling Reduced Selling Pressure
2024-09-09
Author: Content Editor
Recently, there has been a significant withdrawal of over 40,000 ETH (worth around 92 million) from derivative exchanges, indicating that more people are choosing to hold onto their ETH rather than sell it. This trend may affect the market as it suggests reduced selling pressure. It also suggests a decline in the number of ETH borrowed to open short sell positions, indicating a potential decline in bearish sentiment. These fluctuations are being closely watched by investors and analysts to determine their impact on Ethereum prices in the near future.
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