Whales have withdrawn over 12.5 million USD in ETH from OKX, reallocating funds back into Aave. Two previously dormant wallets also purchased 5,350 ETH for about 10.93 million USD, showing strategic positioning.
Currently, ETH trades within a descending channel and faces resistance at 2,261 USD. A break above this level could lead to upward momentum, while a drop could pressure long positions.
Despite market volatility, top traders hold a long/short ratio of 1.72, indicating optimism. As open interest grows, the potential for price swings increases, highlighting the need for careful positioning.
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