Ethereum stakers are lining up to withdraw their ETH, which could pose significant sell pressure on the cryptocurrency. The Ethereum validator exit queue hit a record 855,158 ETH, valued at approximately $3.7 billion. As stakers may look to unlock their tokens amid uncertain market conditions, this growing queue is expected to take about 15 days to clear. According to Bitwise analyst Juan Leon, this surge in unstaked ETH could negatively impact the price of ETH, especially if staked versions like stETH trade at a discount and cause financial adjustments that result in selling pressure. Ethereum's recent price retracement followed a rise towards its all-time high primarily driven by regulatory news and varying market conditions. While the increase in unstaked ETH may indicate adjustment in positions and could act as a continual supply influx, it doesn't necessarily predict a price crash; rather, it could pressure prices lower if it outstrips demand. Leon noted that the situation could lead traders to unwind leveraged trades, adding to sell pressure.

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