Ethereum (CRYPTO: ETH) price remained on edge on Sunday despite the rising odds of an extended US-Iran ceasefire. ETH was trading at $2,100, lower than this month's high of $2,450. It may be at risk of a steeper drop as smart money selling coincides with alarming technicals.
Ethereum Price May Drop Further Amid Smart Money Selling
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There are signs that institutional investors are actively selling their Ethereum holdings, a sign that they expect the price to move lower in the near term.
Data shows that spot Ethereum ETFs have suffered outflows in the last 11 consecutive days. They had over $6 million in outflows on Friday, bringing the monthly outflow figure to $300 million.
