1inch fund sells Ethereum and Wrapped Bitcoin holdings amid market rebound

1Inch Investment Fund is unloaded from the parties of its cryptographic participation despite a recent rebound in the market, signaling a strategic effort to reduce losses and hide against the new potential drawback.

According to monitoring on the X account chain EmbellishThe 1inch team’s investment fund recently sold 37.9 wrapped bitcoin (WBTC) at $ 86,578 each, totaling approximately $ 3.28 million and 511 Ethereum (Ethn) at $ 2,072 each, or about $ 1.05 million.

EMBCN revealed that from February 2 to March 10, the fund spent a total of $ 44.22 million for WBTC, ETH and 1inch. This included the purchase of 11,19 of ETH for a total of approximately $ 28.85 million at an average price of $ 2,577, 160.8 WBTC totaling approximately $ 14.21 million at an average price of $ 88,395 and 4.7 million 1 inch for around 1.15 million dollars at an average price of $ 0.245. “Currently, everything is Uderwater,” wrote Embercn.

In addition, Embercn noted that 1 inch had previously exchanged the three assets with a winning rate, Especially Ethereum.

Since the beginning of February, when 1inch has started acquiring assets, ETH has dropped by almost 50% levels higher than $ 3,300 to $ 1,800 on March 11. The price is constantly moving below the 21 -day exponential mobile average, the main price reductions accompanied by volume peaks, especially in early February, suggesting aggressive liquidation. However, the price has now returned above $ 2,090, testing the EMA from 21 days to $ 2,067 for the first time in weeks.

Likewise, WBTC has been a significant drop since early February, when the price has briefly culminated above $ 105,000. Like Ethereum, he traded under the EMA of 21 days since then, with some brief escapes. The decline became more pronounced at the end of February and early March, WBTC experienced strong sales that lowered the price to about $ 76,000 to its lowest on March 11. In mid-March, WBTC began to form support for $ 80,000. Currently, WBTC has returned to $ 87,544, after crossing the EMA at $ 85,515.82, suggesting that the bullish momentum could be built.

Although the active has fallen to key resistance levels, their prolonged period below the EMA of 21 days and previous sharp sales suggest that the 1 inch fund can take advantage of the rebound to reduce exposure and minimize potential risks.