ETH long-term holders dump 45K Ether per day: Is a price drop to $2.5K next?
Long-term ETH holders have been selling relentlessly, increasing the likelihood of another price drop to $2,500.
Ether’s (ETH) drop toward $3,000 on Friday was preceded by a significant amount of offloads from long-term holders, which some analysts said may lead to a deeper price correction.
ETH long-term holders offloaded 45K daily since late August—fastest rate since Dec 2021. Trading volume spiked 15% on Friday's drop, with futures open interest down 8% signaling weak demand. Bears in control below $3K.