Analyst: The ETH outflow from cryptocurrency derivatives exchanges has reached an 18-month high, which may be a bullish signal

2025-02-07 13:39:25

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ChainCatcher news, according to Cointelegraph, the net outflow of ETH from cryptocurrency derivatives exchanges has reached 300,000 coins (approximately $817.2 million), the highest level since August 2023.

Analysts believe this is a bullish signal, as withdrawing ETH from derivatives exchanges means reduced selling pressure, closing of leveraged positions, and possibly shifting to cold storage. The current trading price of ETH is $2,724.

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