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.