Ethereum Foundation’s $3M ETH Move Signals Bearish Trend?
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Recently, the Ethereum Foundation shifted 1,000 ETH ($3M) to a multi-sig wallet, continuing its pattern of distributing ETH in small batches like the 1,766 ETH sold for $4.81M DAI this year alone, usually preceding price declines. The recent transactions, including those of $148.445K and $291.443K in early May, reflect a new bear cycle possibility as ETH’s price is currently at $2,987, with a 5% drop in just 72 hours. Hence, the transactions coincide with the latest price correction, suggesting a potential bear move.
