A $1.9 Billion Staking Exit Hits ETH, but Is It Really a Bearish Signal?
- Ethereum’s price is pulling back from its $4,040 high, with on-chain data suggesting a local top may be in
- A record $1.9B in ETH is queued to exit staking, but experts say this is a sign of maturity, not panic
- The technical picture is mixed, with an overbought RSI but continued underlying accumulation and ETF demand
Ethereum (ETH) is caught between the latest in ETH validator queues, market-wide sentiment shifts, and a technical setup that may soon evolve into a new trend. As of July 24, ETH is trading around $3,545, having pulled back from a recent high near $4,040.
Santiment Signals a Local Top
According to Santiment, Ethereum’s price ratio versus Bitcoin has dropped by 5.8% over the past 60 hours. This underperformance comes from a spike in FOMO-driven trading volume, similar to what we saw in early May, which historically marked a local top.
Santiment adds that if both trading and social volume were to cool down for the rest of the week, it could set the stage for a second bullish wave, driven by impatience from retail investors’ profit-taking psyche.
Is a $1.9 billion staking exit a bearish signal for ETH?
At the protocol level, over 5…
The post A $1.9 Billion Staking Exit Hits ETH, but Is It Really a Bearish Signal? appeared first on Coin Edition.
Read More
A $1.9 Billion Staking Exit Hits ETH, but Is It Really a Bearish Signal?
- Ethereum’s price is pulling back from its $4,040 high, with on-chain data suggesting a local top may be in
- A record $1.9B in ETH is queued to exit staking, but experts say this is a sign of maturity, not panic
- The technical picture is mixed, with an overbought RSI but continued underlying accumulation and ETF demand
Ethereum (ETH) is caught between the latest in ETH validator queues, market-wide sentiment shifts, and a technical setup that may soon evolve into a new trend. As of July 24, ETH is trading around $3,545, having pulled back from a recent high near $4,040.
Santiment Signals a Local Top
According to Santiment, Ethereum’s price ratio versus Bitcoin has dropped by 5.8% over the past 60 hours. This underperformance comes from a spike in FOMO-driven trading volume, similar to what we saw in early May, which historically marked a local top.
Santiment adds that if both trading and social volume were to cool down for the rest of the week, it could set the stage for a second bullish wave, driven by impatience from retail investors’ profit-taking psyche.
Is a $1.9 billion staking exit a bearish signal for ETH?
At the protocol level, over 5…
The post A $1.9 Billion Staking Exit Hits ETH, but Is It Really a Bearish Signal? appeared first on Coin Edition.
Read More