Foreign media reports that while Ethereum has been fluctuating below the $2,000 mark recently, whale funds continue to flow out of exchanges. One address withdrew 40,000 ETH from Binance in two separate transactions, equivalent to approximately $76.6 million, making it one of the largest net outflows from exchanges that day.

Increased outflow from exchanges

This transfer included 30,000 ETH and a subsequent 10,000 ETH. The article argues that withdrawals from exchanges typically indicate that funds are more likely to be transferred to private wallets or used in DeFi and similar scenarios, rather than being immediately sold on the market.

Prices remain below key levels

The report mentions that ETH is currently trading at around $1930, still under pressure from the 100-day moving average. Over the past few weeks, ETH has been consistently making higher lows after a significant pullback in June, but has yet to achieve a clear breakout.

The market is waiting for confirmation at $2,000.

The article states that ETH is currently above its 20-day and 50-day moving averages, indicating an improvement in its short-to-medium-term structure. If the price effectively breaks above $1930, $2000 will become the next psychological barrier, followed by the 200-day moving average around $2175.