After a notable 60% price increase, Ethereum’s price peaked at 2,617 USD before retracting. Long-term holders are offloading their ETH, and over 1.34 million ETH (valued at 3.4 billion USD) have recently been withdrawn from exchanges. This signifies a cautious stance among investors.
The Age Consumed metric from Santiment indicates significant profit-taking among long-term holders. As these investors reduce their positions, ETH’s movement has notably flattened around the 2,509 USD mark, reflecting a potential shift in market sentiment.
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