Ethereum was one of the best-performing cryptocurrencies in the market over the past week, with its price jumping mid-week to as high as $3,400. Interestingly, the “king of altcoins” is now barely hanging on to the psychological $3,000 price level.

On Friday, December 12, the crypto market felt a wave of bearish pressure, with most large-cap assets witnessing significant price corrections on the day. According to the latest on-chain data, the Ethereum market appears to be experiencing heavy selling pressure.

Ethereum Taker Volume Sees Notable Spike

In a new post on the X platform, crypto analyst Maartunn revealed that the Ethereum price has been a victim of heavy selling pressure in the past day. This observation was based on the Taker Sell Volume metric, which saw a significant incre

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