Ethereum gradually regained some of its momentum after the last correction and succeeded in exceeding the level of $ 1700, achieving 12.2% during the past week. This recovery attracted the attention of analysts who began to examine the movement of the origin in search of indicators that indicate either the continuation of power or the possibilities of renewed fluctuations.
Despite this short -term rise, Ethereum is still trading approximately 63% without its highest historical level at 4878 dollars that it recorded in 2021, reflecting the continued descending trend that dominated the market since late 2021.
Ethereum flow waves to derivative platforms cause anxiety
Recent data indicates that Ethereum may be linked to broader economic factors and strategic trading behaviors, noticeable increases in the quantities of Ethereum sent to derivative trading platforms, a phenomenon that is usually associated with increased speculation activity or re -concentration of trading centers.
These waves coincided with prominent political developments in the United States, which opened the door to new questions about the next track of Ethereum and the digital currency market as a whole.
According to an analysis presented by Amr Taha on the Cryptoquant’s Quicktake platform, Ethereum has seen unusual flows to derivative platforms during the past forty -eight hours, including an increase of 80,000 ETH currencies.
Historically, such flows indicate the markets are ready for periods of increased fluctuations, as traders move their assets either to strengthen the leverage centers or to hedge against possible price movements, and although this style does not accurately determine the price direction, it expresses increasing expectations that a noticeable market activity will occur soon.
Whale moves in Bitcoin and their indirect impact on Ethereum
Despite the main focus of the analysis on Ethereum, Taha also referred to remarkable movements in the Bitcoin markets that may indirectly affect ETH. On April 23, more than $ 600 million from Bitcoin was transferred from whale wallets to platforms, which is the largest daily flow in several weeks.
These moves came after a breakthrough in the Bitcoin trading pair against the British pound, which led to the liquidation of a large number of short centers, and Taha believes that this shift may express an environment that may witness additional sale pressure, especially if attempts to earn profits increases or the implementation of stopping losses.
As for Ethereum, this background raises the possibility of a short -term decline, especially with the accumulation of purchase centers under the current price levels and the increase in the supply on the platforms, and this may lead to the market test for liquidity areas with the possibility of high fluctuations as a result of stopping losses or profit reaping.
