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Last night at eleven o'clock, BlackRock suddenly transferred 72,370 ETH (approximately $312 million) to Coinbase Prime, suspected of selling, and the market fell in response, with ETH dropping to a low of 4280.
This news perfectly explains why the market is so entangled. Whales are quietly positioning themselves, while institutions are cashing out in the short term. This game of chess has put ETH at a critical moment of directional choice. It really is the case that when the big players move, the entire market shakes. In the past week, Ethereum has quickly rebounded every time it approached around 4250. Recently, the focus should still be on the gains and losses at this position, looking for opportunities to short above.