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.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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