60k $ETH tokens were transferred to Coinbase. Usually, the market doesn't immediately interpret such actions as positive. What's more complicated is that these tokens were redeemed from staking, with a holding period of nearly 5 years, indicating it's not short-term trading but rather an adjustment by long-term funds. For $ETH , this short-term movement seems to add an additional layer of selling pressure expectation. If the market was already weak, such flows would make rebounds even more difficult to sustain.