Ethereum Exchange Outflows Surge: What’s the Impact on Price?

Following a recent 2% drop in price, Ethereum (ETH) is trading around $3,500. Despite the short-term dip, weekly price action remains positive, with a 3% increase recorded. A significant trend has emerged, as approximately 700,000 ETH has been withdrawn from centralized exchanges in recent weeks. This withdrawal activity highlights a shift in investor behavior and raises questions about the future direction of Ethereum’s price.