$300M ETH Exit Paves Way for Next Big Move: Can Ethereum Break $2,700?

More than $300 million in Ethereum has been withdrawn from crypto exchanges over two days, sparking speculation about the altcoin's next move. According to analyst Ali Martinez, this reduction in immediately available ETH could ease sell-side pressure and potentially set the stage for a breakout.

The timing of these withdrawals is particularly noteworthy as Ethereum attempts to break above $2,500 for the third time. Martinez notes that if the asset can successfully breach this threshold, its next target would be $2,700, followed by $2,822, a key supply zone where more than 10 million tokens have previously changed hands.

Meanwhile, Ethereum ETFs continue to attract significant inflows, with net gains of over $1 billion in the past two weeks. This trend suggests that institutional investors are maintaining their faith in the asset despite recent volatility.