Ethereum Exchange Outflows Suggest Potential Accumulation Amid Price Dip and Reduced Sell Pressure

Key Points

1. Over 310,000 ETH ($1.15B) was withdrawn from centralized exchanges between July 21 and July 24, coinciding with a price drop from $3,843 to $3,543.

2. 91% of Ethereum holders are currently profitable, with 75% holding for over a year, indicating long-term confidence.

3. Large holders control 55% of Ethereum's total supply, with transaction volumes reaching $108.72 billion in the past week.

4. Ethereum's price rebounded to approximately $3,732 after the outflows, suggesting reduced exchange supply may ease sell pressure.

5. Ethereum has a 0.86 correlation with Bitcoin, meaning its price often follows BTC's movements.