77,000 Ethereum Transferred to Derivatives Amid Price Concerns

Ethereum has gained nearly 10% in the past week, approaching $1,600 following a significant correction. However, it has recently declined by about 4%, trading at $1,574 due to global macroeconomic uncertainty and changing on-chain activity.

Key Facts

On April 16, over 77,000 ETH were transferred to derivative exchanges, marking the largest single-day inflow since March.
This follows inflows of approximately 65,000 ETH on March 26 and April 3, both preceding notable price declines.
These inflows suggest increased hedging or short positioning among traders anticipating market volatility.
Geopolitical tensions, including China's tariffs on US goods, are contributing to a risk-off sentiment that affects crypto markets.
Large-scale inflows to derivatives indicate institutional strategies for hedging or opening short positions.
Monitoring on-chain flows and economic indicators is essential to gauge Ethereum's potential future movements.

Despite signs of recovery, rising derivatives activity and geopolitical issues may complicate Ethereum's short-term outlook.