🔷 Crypto market veteran Benjamin Cowen predicts a possible repeat of the cyclical breakthrough pattern for Ethereum in Q4 2024. According to him, after a breakout in the ETH/BTC pair, a decline could follow, similar to what happened in 2016 and 2019.
🔷 On-chain reports have shown whale activity in the Ethereum market. One of them transferred 5,000 ETH (worth $12.22 million) to Kraken. Over the past two weeks, this whale sold 45,000 ETH at an average price of $2,516. To date, a total of 60,000 ETH, worth $149.68 million, has been sold.
🔷 The Ethereum Foundation also transferred 2,500 ETH ($6.06 million) to the Bitstamp exchange. This could indicate further Ethereum sales, considering the downward pressure it faces in Q4 2024.