Vitalik Buterin's ETH Sales Spark Market Volatility

Vitalik Buterin, co-founder of the Ethereum blockchain, has been actively selling Ether (ETH) over the past few weeks. According to data from Onchain Lens, Buterin has sold a total of 10,723 ETH since February 2nd, amounting to $21.74 million at an average price of $2,027 per ETH.

The sales have been significant enough to influence Ethereum's trading dynamics, with some analysts suggesting that institutional flows may react by adjusting positions. Traders are advised to monitor real-time price movements and support levels around $2,000, as well as resistance levels near $2,500.

In terms of trading strategies, Buterin's sales highlight the importance of volume analysis and market depth. Historical data suggests that large disposals by influential holders can lead to short-term price dips, offering entry points for swing traders.