The post Ethereum Price to Skyrocket? $402 Million Worth ETH Outflow appeared first on Coinpedia Fintech News
Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, is poised for a massive upside rally. It has recently formed a bullish price action pattern on a monthly time frame. A crypto expert posted on X (formerly Twitter), sharing an ETH chart and highlighting how it mirrors Bitcoin’s (BTC) chart before its explosive 2024 surge.
Ethereum (ETH) Mega Breakout
In a post on X, the expert noted, “ETH’s current market structure looks strikingly similar to Bitcoin’s setup before its previous cycle’s major breakout.” Additionally, he stated that if the pattern holds, a big move could be on the horizon.
Besides this prediction, crypto investors and long-term holders have been consistently accumulating the token since the market experienced a sharp decline.
$402 Million Worth of ETH Outflow
Data from Coinglass’s spot inflow/outflow revealed that exchanges have seen an outflow of a significant $402 million worth of ETH in the past 48 hours. Such a large outflow amid current market uncertainty suggests potential accumulation, creating buying pressure and fueling a further upside rally.
Time to Add ETH, Trump
However, pro-crypto President Donald Trump has also been found significantly accumulating the token since his inauguration. Recently, the executive vice president of the United States, Eric Trump, made a post on X that has gained widespread attention. In his post, Eric stated, “In my opinion, it’s a great time to add ETH.”
All these factors point toward Ethereum’s bullish outlook and its potential for a massive upside rally—one it missed in 2024 when BTC reached an all-time high.
Current Price Momentum
At press time, Ether is trading near $2,750 and has experienced a price decline of over 1.35% in the past 24 hours. However, during the same period, its trading volume dropped by 18.50%, indicating lower participation from traders and investors, potentially due to high market volatility.