Analysts speculate that rising Ether outflows from crypto derivatives exchanges are bullish, as they may lead to reduced selling pressure and closed leverage positions.
The amount of Ether being taken off crypto derivatives exchanges has reached the highest level since August 2023 — a signal analysts interpret as positive for Ether's price.
On Feb. 6, Ether (ETH) net flows on crypto derivatives exchanges stood at negative 300,000 ETH, representing approximately $817.2 million worth of outflows, with ETH trading at $2,724 at the time of publication.
The Ether net flows on crypto derivatives stood at -300,000 ETH. Source: CryptoQuant
