Ethereum long-term holders, Selling pressure expanding…Cash-out signal detected

In the cryptocurrency market, the selling movements of Ethereum long-term holders are becoming more pronounced. BeInCrypto reported on June 20, citing Glassnode data, that the ETH's Liveliness indicator recorded an all-time high of 0.69. This indicator shows the degree of asset movement by long-term holders, and higher figures are interpreted as a signal that long-term holders' selling pressure is increasing.

Glassnode analyzed, "The rise in Liveliness means that long-term holders are turning to cashing out rather than accumulating." Conversely, when this figure declines, it is considered a period of accumulation or strengthening of holdings.

Another bearish signal has also been detected. The Chaikin Money Flow (CMF) indicator recorded -0.08, turning into the negative territory. This means that in the market, selling pressure is surpassing buying pressure. Generally, if the CMF is negative, it indicates that funds are flowing out of the market.

Currently, Ethereum (ETH) is trading at $2,445, down 4.16% compared to the previous day. If the selling pressure from long-term holders becomes more pronounced, the possibility of increased downward pressure on ETH prices in the future cannot be ruled out.