ETH Sees Largest Single-Day Crypto Exchange Outflow in Two Years as Altcoins Complete Golden Cross Pattern

• ETH sees largest single-day crypto exchange outflow in nearly two years. 
• This is a bullish sign for Ethereum price to pump in Q1. 
• Altcoin price chart completes bullish golden cross pattern.

The price of Bitcoin (BTC) has once again slipped to the $96,000 price level drawing greater attention to the arrival of bullish altcoin action. Specifically, the crypto market looks to the pioneer altcoin asset Ethereum (ETH) and hopes to see it pumps to set its new ATH this bull cycle as this would indicate the start of altseason’s peak phase. 

So far in every bull cycle, Q1 following a Bitcoin Halving year has always ushered the bull phase of that cycle’s altseason. This would mean that this cycle’s altseason peak should arrive in February and March 2025. Furthermore, the price of ETH has historically pumped exponentially in February and March. 

These signs together bring several signs in the crypto market to watch ETH price closely. As we can see from the post above, Santiment data shows that 224,410 ETH valued at $58 million has been withdrawn from exchanges over the last 24 hours. Moreover, the withdrawals between February 8 and 9 marked the largest single-day ETH outflow from crypto exchanges in nearly two years. 

This is indeed a significant indicator for the price of ETH and the arrival of altseason’s peak. Not only do whales seem to be accumulating heavily but the altcoin price chart has just completed the golden cross pattern hinting at major gains for the altcoin sector as a whole. As expected by seasoned analysts, the expected ETH pump may just trigger the peak of this bull cycle’s altseason. 

Tags:Altcoin Crypto Exchange Crypto market cryptocurrency ETH Ethereum