Dear Readers,
In the last 24 hours, the crypto market is seeing a wide range of dips.
The crypto market leaders BTC is trading at 39600 USD down over 3% from yesterday. Significantly ETH is also trading lower and by over 4.1% and currently trades at USD 2318 at present.
The Global Crypto marketcap stands at 1.56 Trillion USD which is down by 3.23% from yesterday.
The Fear Greed Index is at 49 at the moment, which remains neutral.
All the major indicators for ETH is not encouraging at the moment and it indicating a sell view.
It is to be noted that ETH is trading lower from 2400 USD. In the past, in anticipation of the ETH ETF approvals, it remains trading firm even though BTC traded lower.
According to the noted blockchain analytics from PeckShieldAlert have highlighted the massive Ethereum transactions in the last 24 hours as follows:.
- A Celsius-linked blockchain address transferred around 13,000 ETH ($30.87 million) to Coinbase.
- 2,200 ETH ($5.12 million) transferred to FalconX.
Incidentally Celsius, like FTX, has been actively involved in large crypto asset transfers which had filed the bankruptcy paper in July 2022.
Interestingly, Celsius said earlier this year that it would unstake its ETH holdings to the creditors to make sure the liquidity.
The other notable bulk transfers include:
- FTX orchestrated the transfer of 207 WBTC ($8.6 million) and 1150 ETH ($2.85 million) to Wintermute on Jan 20, 2024.
- FTX initiated a transfer of 135 WBTC worth $5.6 million to Binance.
These large-scale transactions point to significant sell-off activity by both Celsius and FTX.
These bulk transfers may affect the immediate price movements and the liquidity issues in some times.
Be aware of this and have a constant watch!
At the time of the cryptofall, there is a wide range of rise in the stock markets- reacting to a news of recovery plan of China's stock markets.
