10x Research: ETH falls below short- and medium-term moving averages; ETFs see net outflows exceeding $1.4 billion in a single week.

According to Mars Finance, 10x Research analysis indicates that ETH has broken below its 7-day and 30-day moving averages, showing a bearish technical pattern, with a nearly 6.6% drop in the past week. Simultaneously, the ETH ETF has seen a net outflow of over $1.4 billion, with long-term holders of 3-10 years on-chain selling at the fastest pace since 2021, creating additional supply pressure. Despite the intensified selling pressure, large addresses have been accumulating ETH during the decline, with several whale cumulatively purchasing over $1 billion worth of ETH.