Is Ethereum being boxed in below $4K – Strategically, by whales?
Main Idea
Ethereum (ETH) is struggling to break the $4K resistance level despite significant ETF inflows and reduced exchange reserves, with signs of whale manipulation and short-term volatility ahead of the FOMC meeting.
Key Points
1. ETH ETFs have attracted $1.9 billion in inflows since July 21, while exchange reserves dropped by 200K ETH, indicating a supply squeeze.
2. Whale wallet count (1K+ ETH) decreased by 100 over the past week, and Binance's ETH funding rate turned negative (-0.21%), suggesting bearish sentiment.
3. Over $100 million in Ethereum long positions were liquidated in 24 hours, indicating potential market manipulation and trapping of late buyers.
4. ETH is 3.3% below the $4K breakout level, with macro volatility expected due to the upcoming FOMC policy announcement.
5. ETH/BTC ratio rose 1.4% intraday, and Bitcoin Dominance (BTC.D) cooled to 61.25%, hinting at a possible ETH breakout if $4K is breached and sustained.
Description
Is ETH gearing up for a breakout, or is smart money running the same trap play under the $4k ceiling?
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