The Ethereum (ETH) market is currently experiencing intense bearish pressure due to recent whale movements. A large transfer of 17,822 ETH worth approximately $41.27 million was sent from an unknown whale wallet to Binance, the largest crypto exchange. Typically, such transfers indicate a sell-off rather than long-term holding, which has negative implications for the short term. Ethereum's price has already dropped 4.44% in the last 24 hours and 11.47% over the last 30 days, suggesting further losses if this negative sentiment persists. Furthermore, the broader crypto market is also facing selling pressure, with the total market cap falling 2.42% to $2.04 trillion and Bitcoin (BTC) down 2.32% in the last 24 hours.



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