Ethereum’s recent rally may be losing momentum as exchange inflows rise and derivatives data point to softening market support. Nearly 100,000 ETH, or about $250 million, were deposited into Binance in two sizable waves, as per a July 1 analysis by CryptoQuant contributor Amr Taha. These deposits, which usually indicate larger exchange reserves, may result in selling pressure if market sentiment shifts. Taha also observed that the gap between Ethereum spot price and the open interest on Binance was growing. Since June 26, ETH has shown steady buying in the spot market, reaching three consecutive local highs above $2,500. However,…
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