According to @rektcapital, ETH (Ethereum) is experiencing strong demand while BTC (Bitcoin) is facing increased supply in the market. This divergence signals potential short-term strength for ETH, as heightened demand may support price stability or upward movement. In contrast, the supply pressure on BTC could lead to price retracement or increased volatility. Traders should closely monitor ETH order book accumulation and BTC sell-offs for timely entries and exits, as these trends can impact both spot and derivatives markets (source: @rektcapital, Twitter, 2024-06-28).

According to Lookonchain, a whale deposited 700 BTC, valued at $72.72 million, to Binance just 25 minutes ago and now holds a total of 4,500 BTC ($467.3M) in assets. Such large deposits to exchanges are often seen as an indicator of potential selling pressure, which traders should monitor closely for short-term Bitcoin price volatility. The movement of these funds could influence BTC spot and futures trading volumes on Binance and impact overall sentiment in the cryptocurrency market. (Source: Lookonchain, x.com/lookonchain/status/1924082358858473930)