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When large whales make significant purchases or withdrawals, it can create a ripple effect, influencing smaller investors and traders to follow suit, thereby amplifying the bullish momentum. Furthermore, the increased concentration of ETH in the hands of a few large entities could lead to reduced market liquidity, making the price more susceptible to sharp fluctuations.Ethereum's rally is part of a broader upward trend in the crypto market.
The recent price movements and increased trading volumes indicate renewed optimism and bullish sentiment among investors and traders on the crypto market. As Ethereum and Bitcoin continue to rally, many analysts and experts are anticipating further With over three years of immersive experience in the crypto industry, Mushumir is a seasoned crypto writer dedicated to unraveling the complexities of blockchain technology and decentralized finance.
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