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Analysis: Ethereum has pulled back 10% this year due to Bitmine's withdrawal from buying, a slowdown in ETF inflows, and high long positions.

PANews, November 18th news, Matrixport released today's chart stating that the Ethereum price was supported by incremental buying from Bitmine during the summer, but as Bitmine's buying retreated, market sentiment weakened. At the same time, the cumulative net inflow of Ethereum-related ETFs has reached approximately $10 billion, with long positions at a high level, and insufficient new funds leading to increased price adjustment pressure. So far this year, Ethereum has cumulatively pulled back about 10%, with a decline of nearly 20% since the risk warning two weeks ago.

ETH3.55%
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