- On-chain data recorded a 162,084 Ethereum inflow into Binance, the largest single day positive exchange netflow since May 2023
- Crypto analyst Egrag Crypto said that the ETH/BTC pair is in the early stages of a major multiyear bullish reversal
- The analyst pointed out several patterns, with the first one being that the long-term curved support is holding
CryptoQuant reported that on December 5, on-chain data recorded a 162,084 Ethereum inflow into Binance, the largest single day positive exchange netflow since May 2023. At the time, ETH was trading near $3,021.
This is notable because a large positive exchange netflow generally means more Ethereum is being sent to exchanges than withdrawn, which is commonly viewed as a bearish or cautionary signal, a potential sign of investors preparing to sell, and even as a trigger for short-term volatility.
Meanwhile, crypto a…
Read The Full Article Massive Ethereum Inflow To Binance Collides With Bullish ETH/BTC Reversal Structure On Coin Edition.
