Eth Long-term Holders Dump 45k Ether Per Day: Is A Price Drop To...

Ether price is at risk of a 23% drop to $2,500 if long-term investors maintain their current pace of selling. Cointelegraph explains what must happen for a bullish reversal to take place.

Long-term investors have been selling 45,000 ETH daily, increasing sell-side pressure.

Ether’s 50-week EMA and bear flag breakdown target $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.

Ether long-term holders, entities holding ETH (ETH) for more than 155 days, have intensified their sell-side activity as the price dropped below key support levels.

Analyzing ETH spent volume by age, using a 90-day moving average, Glassnode analysts said that 45,000 ETH, worth about $140 million, is leaving three-to-10-year holder wallets daily.

Related: Ether’s chance of turning bullish before 2025 ends depends on 4 critical factors

This aligns with a surge in spot Ethereum exchange-traded funds (ETF) outflows, which further suppresses ETH price. These investment products recorded $259 million in net outflows on Thursday, marking their worst day since Oct. 10, according to data from SoSoValue.

This marked the fourth consecutive day of outflows for the Ethereum ETFs, as the end of the 43-day US government shutdown failed to reignite investor appetite.

A cumulative net outflow of $1.42 billion from Ethereum ETFs since early November signals strong institutional selling pressure, fueling fears of a deeper correction.

Source: CoinTelegraph