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34,999 ETH Deposit to Coinbase Could Signal Selling Pressure
At 16:40 UTC, 34,999 ETH (about $162.8M) moved from an unknown wallet to a Coinbase institutional account. I note the size and destination because large deposits to exchanges often precede market activity.
I view this as a potential source of selling pressure but not a certainty—an institutional deposit can also be custody or a pre-arranged OTC trade. I'll watch on-chain flows and Coinbase order book/liquidity for confirmation.
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Analysis
Large transfers to exchange custody increase the probability of future sell-side activity but are ambiguous alone; destination (Coinbase institutional) suggests either custody or a staged sell, so con...
Recommendation
Watch closely: monitor Coinbase inflows/outflows, order book depth and price action; avoid initiating large new long positions until the intent is clearer, and consider trimming exposure if confirmed ...
Disclaimer
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