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Crypto

Wintermute's $160M Move Clouds Ethereum Price Rally

Guavy AI Editorial Team
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ETH BNB
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The Ethereum price has flashed a bullish signal, but a significant transfer from Wintermute has complicated the situation.

Ethereum formed a golden cross between its 50-day and 200-day EMA bands, while ETH spiked intraday to $2,665 before trading near $2,580.

However, over three hours, Wintermute deposited 61,847 ETH worth about $160.3 million into Binance and Coinbase.

The transfer doesn't necessarily mean those ETH are being sold, but it adds uncertainty to the current rally.

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