Analyst: The ETH outflow from cryptocurrency derivatives exchanges has reached an 18-month high, which may be a bullish signal

ChainCatcher news, according to Cointelegraph, the net outflow of ETH from cryptocurrency derivatives exchanges has reached 300,000 coins (approximately $817.2 million), the highest level since August 2023.

Analysts believe this is a bullish signal, as withdrawing ETH from derivatives exchanges means reduced selling pressure, closing of leveraged positions, and possibly shifting to cold storage. The current trading price of ETH is $2,724.