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Ethereum Eyes Breakout—but Exchange Inflows Spark Caution

  • Ethereum is eyeing a breakout above $2,800 resistance, but caution prevails due to high exchange inflows and bearish derivatives outlook.
  • Exchange inflows of 117,000 ETH, the second-highest since April 24, signal increased selling pressure amidst market unease.
  • Political clash between Donald Trump and Elon Musk catalyzed a 7% drop in Ethereum price, leading to profit-taking surpassing $600 million.
  • Weak job data, bond market concerns, and overall market hesitation contribute to falling crypto sentiment, leading to potential sell-offs in volatile assets like Ethereum.

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