Paolo Ardoino alleged some hedge funds are trying to create pressure “in the billions” to “harm Tether liquidity” so that they can eventually buy back tokens at a much lower price.
Ether price is forming a bear pennant pattern whose profit target comes to be near $850.
Nexo says it currently has no exposure to Three Arrows Capital and has 100% liquidity to meet its debt obligations.
Ether risks turning overbought on shorter timeframes, amounting to sell-offs also as it retests a critical resistance level.
Crypto market correlation and Valkyrie’s Avalanche fund launch also helped push AVAX to a weekly high.