Ethereum

2024

Coin

<ul class="news-points">
 <li><strong>Ethereum dropped below $3,000 on Friday morning amid a massive whale selloff.</strong></li>
 <li><strong>The current pullback has plunged ETH into the Q1/Q2 low levels of 2024.</strong></li>
 <li><strong>Long-term holders consider the pullback an opportunity to buy ETH at a cheaper price.</strong></li>
</ul>
<p>Ethereum fell below the psychologically significant $3,000 mark on Friday, driven by large transfers to exchanges by Ethereum whales along with broader market weakness. The decline has sparked concerns among investors and renewed discussions about the cryptocurrency’s short-term prospects, even as long-term holders view the dip as a buying opportunity.</p>
<p>Whale Alert, a prominent blockchain tracker, reported that Ethereum whales transferred significant amounts of ETH to centralized exchanges (CEXs), further pressuring the falling ETH price.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 9,600 <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#ETH</a> (27,568,607 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Binance</a><a href="https://t.co/2wieThUIXN" target="_blank" rel="noopener noreferrer nofollow">https://t.co/2wieThUIXN</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1809090850409869720?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Whale Alert identified an Ethereum whale moving 10,351 ETH, valued at over $30.1 million, from an unknown wallet to Binance early Friday morning. Hours later, another large transaction of 9,600 ETH, worth over $27.5 million, moved from an unknown wal…</p>
<p>The post <a href="https://coinedition.com/ethereum-plunges-below-3000-is-this-the-start-of-a-bear-market/" rel="noopener noreferrer nofollow">Ethereum Plunges Below $3,000 – Is This the Start of a Bear Market?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Ethereum Plunges Below $3,000 – Is This the Start of a Bear Market?

Coin Edition

Other articles published on Jul 5, 2024

HashKey Global Ranks Top 10 Globally and Achieves Profitability Within 2 Months of Launch

Whale Wallet Buys 583.7B Shiba Inu Amid Market Chaos: What's Next?

A Key Pattern Signals Looming Market Recovery, So Crypto Experts Hurry to Buy These Cryptos

Bitcoin mining stocks slumping in pre-market trading

Major Cryptos Hit Yearly Lows As Bearish Condition Intensifies

Only 5 Bitcoin Mining ASICs Profitable Below $55K: F2Pool

Join our free newsletter for daily crypto updates!