However, data from on-chain analytics platform Sentora (formerly IntoTheBlock) reveals that accumulation is quietly underway. Despite the price declines, exchange outflows for both assets have remained strongly negative.
Over $3.08 billion worth of ETH exited exchanges during the week, which serves as evidence of a continued willingness among investors to steadily accumulate Ethereum, even in the face of short-term losses and market pressure.
At the time of writing, Bitcoin was trading at $109,585, while Ethereum traded at $4,011.
Featured image from Unsplash, chart from TradingView
