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10x Research: ETH falls below short and medium-term moving averages, with ETF net outflows exceeding $1.4 billion in a single week.
Odaily News According to analysis by 10x Research, ETH has now fallen below the 7-day and 30-day moving averages, with a bearish technical pattern, and has dropped by 6.6% in the past week. At the same time, ETH ETF has seen a net outflow of over $1.4 billion, with on-chain long-term holders holding for 3-10 years selling at the fastest pace since 2021, creating additional supply pressure. Despite the increased selling pressure, large addresses are accumulating during the decline, and several whales have cumulatively bought over a billion dollars worth of ETH.