Ethereum has perhaps taken the largest hit of all the large-cap altcoins in 
February, with its value dropping by more than 36% over the past month. The 
second-largest cryptocurrency deepened its woes over the past week, struggling 
to keep its price above the $2,000 level. On Friday, February 27th, the price 
of Ethereum fell by more than 5%, falling to just above the $1,900 mark. 
Interestingly, a recent on-chain evaluation shows the potential reason behind 
the altcoin&#8217;s latest struggles below $2,000. ETH Taker Volume Sees Steady Rise 
On Friday In a February 27th post on the social media platform, crypto pundit 
Maartunn revealed the source of the recent bearish pressure witnessed by the 
Ethereum price. The relevant on-chain indicator here is the Taker Sell Volume, 
which saw steady spikes across all exchanges throughout Friday. Related 
Reading: XRP Emerging As Safe Haven? CEO Points To Steady Inflows As BTC, ETH 
Struggle For context, the Taker Sell Volume metric measures the total volume 
of sell orders filled by takers (market participants who match existing orders 
created by market makers) in Ethereum perpetual swaps. Hence, a rise in the 
indicator can be interpreted as a bearish signal, implying that the market is 
being flooded with sell orders. As observed in the chart above, the Ethereum 
Taker Sell Volume rose as high as 105 million ETH on Friday. Now, this puts 
some context to the fall in the ETH price seen on the day, as the spike in 
this metric is a sign of heavy selling pressure in the market earlier. The 
price of ETH, which started the day above the $2,000 mark, soon dropped to 
around $1,920 as the weekend approached. Ethereum Price Overview As of this 
writing, the price of ETH stands at around $1,925, reflecting an over 5% 
decline in the past 24 hours. However, the past week&#8217;s action was relatively 
mild, with the second-largest cryptocurrency losing nearly 2% of its value in 
the past seven days. The selling pressure witnessed by the Ethereum price over 
the past day is not new, as it has been the case over the past few weeks. This 
trend can be seen in the recent performance of ETH exchange-traded funds 
(ETFs). According to recent market data, the US-based Ethereum ETFs have seen 
roughly 563,600 ETH (worth nearly $1.13 billion) withdrawn by investors over 
the past five weeks. This significant ETF outflow highlights the shift in 
investor sentiment and demand since the last week of January. Market sentiment 
and demand need to shift optimistically for the ETH price to witness a bullish 
reversal soon. Related Reading: The $2,000 Fault Line: Why Ethereum’s Record 
Volatility Signals An Imminent Explosion Featured image from iStock, chart 
from TradingView

Here’s Why Ethereum Slipped Below $2,000 – Details

Escalating military actions risk destabilizing the region, potentially leading 
to broader geopolitical tensions and economic repercussions.
The post Trump confirms launch of operation against Iran appeared first on 
Crypto Briefing.

Trump confirms launch of operation against Iran

Bitcoin faced geopolitical instability alone as a weekend move on Iran saw 
traditional markets closed, with key support still holding.

Bitcoin price drops to $63K as US, Israel bomb Iran

Bitcoin and the whole cryptocurrency market experienced a sharp fall on 
Saturday morning, after Israel and the U.S. launched a series of “preemptive 
strikes” on Iran following days of intense negotiations regarding Iran’s 
nuclear program. BTC lost the $64k support and kept falling. Bitcoin Nosedives 
After Israel and the U.S. Launch Preemptive Strikes on Iran […]

Bitcoin Drops Under $64K as Israel and US Launch ‘Preemptive Strikes’ on Iran

OpenAI will deploy its AI models on Pentagon classified networks after the US 
government ordered agencies to stop using rival Anthropic over national 
security concerns.

Cryptocurrency price in MYR