Ethereum Price Rally Hit by $160M Transfer from Wintermute

The Ethereum price has flashed a bullish signal by forming a golden cross between its 50-day and 200-day EMA bands.

However, a significant transfer of $160 million from Wintermute into Binance and Coinbase raises uncertainty about the rally's sustainability.

The transfer, worth 61,847 ETH, was made over three hours while the chart was attempting to look bullish. Although it doesn't confirm that these assets are being sold, it adds a source of uncertainty to the current price action.

Bitfinex has recorded its largest ETH inflow since February 2025, with approximately $495 million in positive net flow on September 10. This is about 36% higher than the previous reference point.

The exchange data is mixed, with Binance seeing around $244 million in net outflows and OKX recording roughly $99 million. The split between inflows and outflows suggests that Bitfinex's inflow was about 44% larger than the combined Binance and OKX outflows.