The largest altcoin ether (ETH) retreats at the end of the week amid profit taking by large traders.
The ETH rate on Sunday, May 16, fell to $ 3800, the cryptocurrency capitalization fell to $ 439.933 billion. For the first time since the end of March, the broadcast ends the week with a pullback, observers note.
Bitcoin (BTC) is also in the red today. The largest digital currency has bounced back to $ 49,000, although analysts still believe we have found a bottom and a more significant drop is unlikely.
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The weakening of the bitcoin rate occurred after the increase in the flow of coins to exchanges. Typically, this trend signals that investors are preparing for a massive sell-off.
Over the past five weeks, the "whales" that control from 10 to 10,000 bitcoins have sold approximately 120,000 coins for a total of up to $ 5.74 billion. A similar situation was observed in early February this year, according to analysts' survey.
The large ether holders also dumped some of their reserves, which led to a significant correction in the altcoin.