CryptoQuant analyst said investors are selling Ethereum (ETH) and buying Bitcoin (BTC).
The Bitcoin and cryptocurrency markets, which are affected by political and geopolitical events, have been moving sideways in recent days. While investors are eagerly waiting for a major rally to begin, especially for altcoins, CryptoQuant analyst said that investors are selling Ethereum (ETH) and buying Bitcoin (BTC).
In his latest blog post discussing the behavior of retail investors, CyptoQuant analyst Amr Taha explained that the latest data shows that retail investors are actively buying Bitcoin, while the selling pressure on Ethereum continues.
CryptoQuant analyst noted that Ethereum inflows to Binance have been continuing for five days, indicating that this is a signal of temporary selling pressure for ETH.
In response to the selling pressure in ETH, active purchases are seen by retail investors in the Bitcoin market. Although purchases in BTC have increased, the analyst argued that these purchases are made by short-term investors, which could indicate a potential peak for BTC.
