Despite ETH’s recent price weakness, long-term holders appear unfazed. Over $1.8 billion worth of ETH exited centralized exchanges last week alone, reflecting a growing preference for self-custody and long-term storage.
Historically, such outflows have preceded recovery phases, as seen during the 2022 bottom.
The latest data mirrors that pattern, with whales and institutional players accumulating during dips rather than capitulating.
While short-term sentiment remains cautious, these net outflows suggest deep-rooted conviction in Ethereum’s future — from its upcoming upgrades to its central role in DeFi and tokenization infrastructure.
For seasoned investors, the selloff is less a red flag and more a discounted entry point.
The 21-day challengeMarch could be Ethereum’s last chance to snap a rare four-month losing streak — a pattern not seen since the 2018 bear market.
With February delivering a strong +46.28% rebound, Ethereum must hold momentum through March’s remaining 21 days to avoid an unsettling red stretch that could shake market confidence.
Historically, March has been favorable for ETH, boasting a 20.03% average return and a 9.96% median. But 2024’s back-to-back declines have eroded bullish sentiment.
If Ethereum fails to finish this month in the green, it risks reinforcing a psychological downtrend that could spook retail traders and delay any sustained breakout.