Deribit Moves $783M in Ethereum To Cold Storage: A Bullish Signal for ETH?

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Deribit Moves $783M in Ethereum To Cold Storage: A Bullish Signal for ETH? - NewsBTC

Quick Summary:

Additionally, Taha highlighted that this move could also have impact on market sentiment where by traders could interpret these transactions as bullish, “leading to increased buying activity.” Ethereum Market Performance Meanwhile, Ethereum currently trades above the $3,300 mark following an increase of 8.2% in the past week and 1.3% in the past 24 hours.

According to renowned crypto analyst known as EᴛʜᴇʀNᴀꜱʏᴏɴᴀL on X, Ethereum current price chart appears to be mirroring that of 2016-2017 where it experienced a “mega bull” run.

While Ethereum seems to have begun its own major rally, the asset has recently experienced significant activity on the Deribit Options Exchange which begs the question of what it means for ETH’s price.