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Ethereum has reached a historic milestone as its exchange balance turns negative for the first time, indicating more tokens are being withdrawn than deposited. Analysts view this development as a strong bullish signal, suggesting reduced selling pressure and growing investor confidence. This structural shift in supply dynamics could pave the way for Ethereum’s next major price rally.
- Ethereum's exchange balance turned negative for the first time in history, indicating net withdrawals exceeding deposits
- Analyst Cas Abbe notes this signals reduced selling pressure and potential accumulation phase rather than preparation for sell-off
- Technical analyst Crypto Goos identifies breakout from long-term wedge pattern with $7,000 price target, representing 62% upside
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