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Who is crazily dumping ETH in the market?
Recently, I saw a set of contradictory data: a large mining company has crazily acquired 1.075 million ETH in the past two months. At the end of September, they only had 2.65 million, and now it has risen to 3.726 million. Logically, this level of accumulation should stabilize the market, right?
As a result, the price of ETH plummeted by more than 30%, falling from $4142. Institutions built positions on the left side, while retail investors cut losses on the right side? Or is there greater selling pressure hedging these buy orders? This operation is truly hard to understand.