A crypto hedge fund moves $60 million in ETH to an exchange, giving goosebumps to users about a possible price drop if the sell-off ultimately happens.
Nonetheless, the number of Ether held by exchanges continued to drop in May, according to on-chain data tracked by Glassnode.dropped from 20.45 million to 20.38 million month-to-date , underscoring that investors are holding their investments for the long term.Three Arrow's massive Ether transfer to FTX coincides with ETH testing a critical support-turned-resistance level near $1,920 for a breakout, as shown below.
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