Ethereum price bottom? $1.8B in ETH leaves exchanges, biggest outflow since 2022

Ethereum outflows have surged to their highest levels since 2022. However, ETH price must reclaim the key weekly EMA level to confirm a potential bottom.

Ethereum’s native token, Ether (ETH), witnessed its lowest weekly close since November 2023, highlighting just how much the top altcoin has struggled over the past few months.

Ethereum 1-day chart. Source: Cointelegraph/TradingView

In the past 83 days, it declined by 51%, translating to an average daily loss of approximately 0.61%. If the losses are compounded daily, the rate increases to about 0.84%.

Read more