Should you buy this dip or are we going lower?
Rough week so far ngl:
$ETH is down about 8.6%, and
$BTC is down ~7.7%
Looked on-chain to try and figure out what's happening with $ETH, and I found something pretty interesting:
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🔸 Firstly, who’s selling ETH?
Top PnL traders sold around $7.7M net in the last 24 hours.
These are the wallets with a proven track record, wallets that have made money consistently across cycles.
And they reduced ETH exposure before and during the drop.
This is bearish, and we should be concerned.
🔸 Now, let's see who’s buying.
➜ Fresh wallets brought in about $50