Ethereum Drops 10% but Binance ETH Reserves Hit Six-Month Low
- —ETH fell 10% in three days, shedding $38 billion in market cap
- —Binance ETH reserves dropped from 3.92 million in August to 3.47 million
- —Binance processed a record 320,000 ETH withdrawal transactions on October 6
- —US spot Ethereum ETFs saw an eighth straight day of outflows, $580 million in October
Why it matters: Rising exchange withdrawals may signal accumulation, but persistent ETF outflows and broad market weakness keep the risk of a drop below $2,400 alive.
Source: CryptoPotato