Ethereum Price Correction Potential: Whales Leaving, Demand Waning

The crypto market witnessed a surge driven by Bitcoin hitting new all-time highs and favorable economic conditions, leading Ethereum’s price to reach its eight-week high of $2,731. However, recent gains have faltered as large investors cash out profits, potentially setting the stage for a short-term correction in ETH price. This pullback is reflected in declining buying interest, with over $40.66 million worth of Ethereum positions liquidated over the past 24 hours.