In the past 48 hours, Ethereum witnessed significant exchange outflows, combined with 38% liquidation in open interest which drove prices down to 2,125 USD before rebounding to 2,921 USD.
The taker buy-sell ratio indicates seller dominance and short-term bearish sentiment persists. Recent trends show challenges in maintaining price increases compared to Bitcoin and other altcoins.
With a plateauing of Mean Coin Age and negative funding rates, the outlook remains bearish. However, some indicators suggest possibilities for accumulation despite evident selling pressure.
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