Ethereum (ETH) is experiencing heightened selling pressure, particularly in the spot markets, after recent developments in US-Iran peace talks have led to increased volatility. Additionally, with oil prices surging, ETH has been unable to recover the crucial $2,300 level as of Thursday, signaling potential further downside. Rising exchange reserves signal intensified selling pressure Over the past week, Ethereum’s exchange reserves have been on the rise, climbing by 623K ETH from May 5 to 13. This increase in exchange reserves suggests that there is a growing amount of ETH being transferred to centralized exchanges for potential sale, indicating increased selling pressure.
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