Fidelity-linked wallets transferred 260,000 ETH, worth $499.55 million, to three wallets, a movement interpreted as internal custody rebalancing. Meanwhile, Bitmine continued accumulating by purchasing 10,460 ETH for $19.48 million, bringing its total to 5.5 million ETH, valued at approximately $10.3 billion. ETH was trading around $1,865, down 1.9% daily, after failing to hold the $1,900 support level. Exchange netflows remained negative for six consecutive days, at around -3,200 ETH, indicating continued withdrawals from trading platforms. The broader market structure remains bullish as ETH stays above its 200-day Moving Average.
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