ETH Sell Pressure Intensifies as Major Players Unload Over $800M

Recent data from Bitget shows significant activity in major cryptocurrency transactions over the past 24 hours. The total transaction value for Bitcoin (BTC) was $493 million, with $230 million of that being buy orders and $263 million being sell orders. This resulted in a net difference of -$33.68 million, indicating some level of sell pressure.

The Ethereum (ETH) market saw even more activity, with total transactions reaching $807 million. Of this amount, $378 million were buy orders and $429 million were sell orders, resulting in a net difference of -$50.14 million. This suggests that major players have been selling ETH over the past 24 hours.

The data also shows that major players still hold positions at key price levels for both BTC and ETH. The net order differences are $1.616 billion for BTC and $1.733 billion for ETH, indicating active support below current prices for BTC and sell pressure above current prices for ETH.