Ethereum Miner Selling Pressure Hits Near-Record Lows as Institutional Demand Beckons
Ethereum's miner selling pressure has dropped to near historic lows, with CryptoQuant analysts suggesting this could create a favorable setup for a strong price recovery.
The data comes as Ethereum trades at $1,912, down 0.65% over the past week but up 21% over the last month, according to CoinMarketCap data.
CryptoQuant analyst PelinayPA noted that miner transfers to Binance have fallen close to their lowest levels in the past year, indicating a sharp drop in miner-driven selling pressure.
The current decline suggests miners are adding little immediate selling pressure to the market, making it easier for buyers to absorb available liquidity.
However, analyst PelinayPA warned that lower supply alone is not enough to push prices higher. Reduced miner selling may limit downside risks, but Ethereum remains range-bound because demand has not accelerated.