- Current Ethereum Price: $2,330 One of the major investors deposited 78,000 Ethereum into the Binance platform on Friday, increasing their potential sales to 244,000 Ethereum over the past three days. Ethereum exchange-traded funds (ETFs) broke a four-day inflow streak, recording $103.5 million in outflows. Ethereum rebounded from the 50-day exponential moving average after a two-day decline. Ethereum (ETH) price retreated from earlier weekly gains and is currently hovering near $2,330 at the time of writing this report on Saturday. This decline follows heavy selling across major investors' wallets. Gareth Jin, one of the leading Bitcoin pioneers who also holds a large amount of Ethereum, transferred an additional 78,000 ETH to the Binance crypto trading platform on Friday, according to EmberCN, a site specializing in tracking smart investments. Jin had previously transferred 166,000 ETH to the platform on Wednesday, bringing his total potential sales to 244,000 ETH over the past three days. The sell coincides with a nearly 6% drop in Ethereum’s price, as the leading altcoin fell from $2,423 to $2,277 during that period. This massive investor is known for timing the "double financing" operation perfectly on October 10, after building a large sell position worth $1.1 billion. However, he suffered a loss of $378 million from several buy positions in January. Market participants often use whale activity to determine their entry and exit timing. Similarly, several prominent whale wallets have increased their deposits on trading platforms in recent days. On the institutional front, US spot ETH ETFs ended a four-day inflow streak on Thursday, recording net outflows of $103.5 million, according to SoSoValue data. According to a report by Crypto Quant on Thursday, institutional capital shows a clear preference for Bitcoin over Ethereum. Since the market lows in early February, Bitcoin funds added 92,116 BTC, while Ethereum funds lost 127,000 ETH. The latter has seen little recovery until April. The report stated: "During periods of uncertainty, many funds seem more willing to reduce exposure to ETH first, while maintaining or rebuilding BTC positions as a safer allocation for cryptocurrencies." Ethereum fund holdings. Source: Crypto Quant Meanwhile, the bearish trend in Ethereum perpetual contracts continues to impact prices, as funding rates show dominance of #h selling.

It seems that the market is currently actively collecting bull traps at $ETH . The price could still be pushed up to around $2340 — where the liquidation zone and additional liquidity above are located. After such accumulation, the classic scenario is not excluded: gathering late long traders and then sharply pulling the market back down. $ETH