Ethereum Faces Pullback Amid Market Uncertainty
- Ethereum’s price declined by 3.2% to $2,621 recently.
- A federal court reinstated tariffs, impacting crypto markets with risk-off sentiment.
- ETH remains up approximately 45% over the past month despite recent declines.
- Approximately 385,000 ETH was transferred to Binance on May 27, indicating potential selling intent.
- Bitcoin’s NUPL metric reached the 0.6 threshold, suggesting a possible market cooling phase.
The recent inflow of about 385,000 ETH to Binance and Bitcoin’s NUPL at a critical level indicate market participants are adjusting positions amid uncertainty. Ethereum’s long-term strength persists despite short-term caution signals.
Source (2.6)https://www.newsbtc.com/news/ethereum/ethereum-at-risk-whale-activity-and-on-chain-signals-hint-at-further-correction/?rand=52377
