Bitcoin recovered from its hard correction after the $ 40,000 levels earlier in the week. Bitcoin, which has retested $ 40,000 and managed to hold just below $ 39500, continues to accumulate for a new record attempt.
During the hard correction in Bitcoin, we saw that Ethereum also fell from $ 1348 to $ 915. Ethereum, which accompanied Bitcoin during its rise, is currently trading at $ 1220. During the recovery in ETH, we saw particularly good response purchases below $ 1000.
In the table below we see Ethereum activity entering and exiting exchanges (including all voluminous exchanges). We observe that approximately 3.2 million Ethereum has exited exchanges in the last week. The current value of these Ethereums is approximately $ 4 billion.
The rapid decline of the Ethereum supply in the exchanges signals us that Ethereum has a long way to go.
Especially during the correction, big investors who take advantage of the excessive decrease in the price seem to have attracted the Ethereum they collected from the bottom to their cold wallets.
Ethereum’s all-time high has not yet been reached. However, we are not far from this level either. The withdrawal of such a large amount of Ethereum from the stock markets while it is so close to the all-time high in Ethereum shows that the expectation in Ethereum will not end at the ATH level.