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Tag: ethereum

  • Bitcoin Plunges to Six Month Low as Crypto Traders Worry We’re Nowhere Near the Bottom

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    Bitcoin’s price sank on Friday, dipping below $95,000 before recovering slightly by early afternoon ET. The price currently sits at $95,400, down 3.2% on the day and down 15% from a month ago.

    Bitcoin hit a six-month low Friday as the price of cryptocurrencies seemed to be largely tracking the stock market, which frequently happens. Markets opened lower on Friday before similarly rebounding. The S&P 500 is down 1.2% this month, according to CNN, and the Dow is down 0.6%.

    Crypto traders often think of themselves as being part of a new financial system, independent of whatever is happening on Wall Street. But price fluctuations often mirror the Dow Jones and NASDAQ, and can often seem even more dramatic with wild swings.

    Bitcoin traders often believe they can predict where prices are headed, leading to all kinds of theories that get picked up in the crypto press and applied to Bitcoin. The worrisome chart of the day seems to be the “classic five-phase Wyckoff Distribution,” which CoinTelegraph warns might mean Bitcoin could fall to as low as $86,000. They may as well be reading tea leaves and animal entrails, of course. But gamblers love to have a system.

    Three weeks ago, CoinTelegraph ran an article about how Bitcoin could be on track to hit $200,000 by the end of this year. As in 2025. As in six weeks from now.

    Bitcoin’s price hit an all-time high above $126,000 back on Oct. 6 but has struggled over the past month as investors pull their money out. Bitcoin magazine reports that roughly 815,000 BTC worth almost $79 billion has been sold by long-time holders in the past 30 days.

    The price of other major cryptocurrencies was largely down on Friday, with Ethereum down 1.5% on the day (down 30% over the past three months) and XRP down 2.4% (down 27.4% over the past three months). Binance’s BNB seemed to be the exception to the daily trend, up 0.4% on the day and up 7.62% over the past three months. However, BNB is way down (23.4%) from the highs it reached a month ago, when Bitcoin was also doing well.

    If the history of Bitcoin over recent years is any guide, the price is likely to track whatever the stock market does. If you think the U.S. economy is strong and it will continue to get better, you should probably put your money on Bitcoin going up. If you think the economy is weakening and stocks are likely to plunge in the future, you should probably bet on Bitcoin’s price going down.

    And if you think that the underlying economy struggling could act like a house of cards to crypto and give us a Sam Bankman-Fried scenario, you really should not bank on Bitcoin going up. SBF got in trouble because he was playing with funny money and ran out of the real stuff to gamble with.

    Nobody knows for certain what the future holds. The price of Bitcoin could go up or it could go down.

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    Matt Novak

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  • Crypto Bros’ Mistrial Was Such an ‘Emotional Burden’ for Deadlocked Jurors That ‘Half’ of Them Cried

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    In May of last year, two brothers in their 20s were arrested for what the Justice Department at the time called “attacking the Ethereum blockchain and stealing $25 million.” Attacking the blockchain does sound like a cool, sci-fi crime, but the brothers maintained that they were just aggressive traders, not criminals, and yesterday, their prosecution culminated in what sounds like a very stressful mistrial.

    The prosecution’s case was that Anton Peraire-Bueno and James Pepaire-Bueno set a trap that amounted to fraud. Prosecutors said they preyed upon crypto trading bots that moved digital money around on behalf of, apparently, three entities tied to actual human beings—although only one, David Yakira, ever came forward as an alleged victim. The trading bots were targeted because they were performing what are known as “sandwich transactions,” and were allegedly lured into situations that caused them to glitch out and release valuable tokens in exchange for, well, shitcoins.

    Then the brothers allegedly tried to launder their winnings.

    Performing digital muggings (allegedly!) on bots that perform sandwich transactions required extreme sophistication, and the ability to spot an exploit that wasn’t expressly forbidden in the Wild West universe that is crypto land.

    The nature of the scheme also seems like a bid for a Robin Hood-type vigilante reputation. Sandwich transactions are legal, but are perceived as parasitic arbitrage plays, or at the very least extremely irritating—essentially just gaming unsuspecting people’s transactions to set the price where the, if you will, sandwich artisan wants it in order to make a quick buck at the expense of a sucker with no recourse. In other words, it appears the brothers correctly predicted the rather nasty behavior of some bots, slipped in some sketchy code, and came away with $25 million.

    So were these brothers grifters, or just aggressive traders with what their lawyer called a very good “trading strategy”?

    According to Business Insider, the Pepaire-Bueno brothers faced a Manhattan jury specifically chosen to pry apart these fuzzy distinctions, with half of them holding masters degrees of one sort or another. “Almost all,” Business Insider noted, were either middle-aged or retirement-aged.

    Welp, in the course of a three week trial, that ambiguity was apparently not resolved to the unanimous satisfaction of the jury, and things sound like they got intense for this unhappy group of 12 people.

    According to Bloomberg’s account of the mistrial declaration, while an anonymous juror later explained that the facts of the case were not in dispute, at some point on Friday, the jury pleaded with the judge for help coming to a resolution. Some had lost “multiple nights” of sleep. Then later in the day, a note from the jury said that coming to a decision was placing them under an “emotional burden” and that half of the jurors had “spontaneously broken down in tears” while they were deliberating.

    So U.S. District Judge Jessica Clarke went ahead and declared a mistrial Friday.

    To be clear, a deadlocked jury doesn’t necessarily free the Peraire-Bueno brothers, but it is unwelcome news for prosecutors, who will naturally want to retry the brothers in the hopes of getting a conviction. But they do so with the burden of having already fought to a stalemate, which can’t be any better for morale than the fact that deliberating on the details of this highly technical case made a jury cry.

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    Mike Pearl

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  • Ethereum Weakens Again, Bulls Unable to Spark Meaningful Recovery

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    Ethereum price started a fresh decline from $3,480. ETH is struggling to recover and is now at risk of another decline below $3,250.

    • Ethereum started another bearish wave after it settled below $3,450.
    • The price is trading below $3,400 and the 100-hourly Simple Moving Average.
    • There is a new bearish trend line forming with resistance at $3,380 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair could continue to move down if it trades below $3,250.

    Ethereum Price Dips Again

    Ethereum price failed to stay in a positive zone and started a fresh decline from $3,480, like Bitcoin. ETH price declined below $3,420 and $3,400.

    It seems like the bears defended the 50% Fib retracement level of the downward move from the $3,920 swing high to the $3,058 low. There is also a new bearish trend line forming with resistance at $3,380 on the hourly chart of ETH/USD.

    Ethereum price is now trading below $3,350 and the 100-hourly Simple Moving Average. If there is another recovery wave, the price could face resistance near the $3,350 level. The next key resistance is near the $3,380 level and the trend line.

    The first major resistance is near the $3,480 level. A clear move above the $3,480 resistance might send the price toward the $3,580 resistance and the 61.8% Fib retracement level of the downward move from the $3,920 swing high to the $3,058 low.

    Source: ETHUSD on TradingView.com

    An upside break above the $3,580 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,675 in the near term.

    Another Decline In ETH?

    If Ethereum fails to clear the $3,380 resistance, it could start a fresh decline. Initial support on the downside is near the $3,250 level. The first major support sits near the $3,220 zone.

    A clear move below the $3,220 support might push the price toward the $3,150 support. Any more losses might send the price toward the $3,050 region in the near term. The next key support sits at $3,020 and $3,000.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

    Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

    Major Support Level – $3,250

    Major Resistance Level – $3,380

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    Aayush Jindal

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  • Weakness In Major Cryptos: What Key Technical Metrics Indicate For Bitcoin, Ethereum, And Solana

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    Despite a slight recovery in cryptocurrency prices on Wednesday, experts remain divided on the future direction of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The market is at a crossroads, with some analysts anticipating a deeper correction, while others see the potential for a renewed recovery.

    iShares Bitcoin Trust ETF Hits 52-Week Low 

    According to a report from Barron’s, all three cryptocurrencies have attracted attention from major exchange-traded fund (ETF) issuers and President Trump’s administration, spurring hopes that increased institutional adoption could help stabilize volatility. 

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    The iShares Bitcoin Trust ETF is currently trading more than 20% below its recent 52-week high, which was reached less than a month ago. This peak coincided with the formation of a bearish evening star pattern, and the ETF experienced a notable decline of 3% on October 7. 

    The drop below the $70 mark has added to the bearish sentiment, with the ETF declining in three of the last four weeks, closing within the lower half of its trading range. 

    This week alone has seen an 8% drop, and the ETF recently undercut its 200-day simple moving average, marking a steep 5.5% decline—the largest single-day drop since April 7. 

    For investors to regain confidence, analysts assert that it is crucial for the ETF to hold near current levels and reclaim the 21-day exponential moving average (EMA), a key indicator of bullish momentum. Historically, recoveries have taken about six sessions, as seen back in April.

    Ethereum ETF Faces 17% Weekly Decline

    Ethereum, represented through the Grayscale Ethereum Trust ETF, has experienced a more pronounced decline, now down 34% from its annual peak and showing a negative year-to-date performance of 5%. This week alone, the ETF has dropped 17%, roughly double the decline seen in the Bitcoin Trust ETF. 

    However, the sharp pullback follows a significant increase of over 220% from early April to late August, making the current retreat appear both prudent and necessary. 

    Notably, the fund has not yet pierced its 200-day simple moving average, having touched it recently while retesting a breakout above a bullish inverse head-and-shoulders pattern. 

    The behavior of the ETF around this critical moving average in the coming week will be crucial; if stability can be achieved, it may present an attractive buying opportunity. After facing resistance at the $40 level on August 22, recent price action could be forming a double-bottom base, provided that the recent lows hold.

    Heightened Concerns For Solana

    Solana’s performance has been the most concerning, with its ETF plummeting 41% from its most recent 52-week high set in September. This heightened volatility may reflect the asset’s relative newness, as it began trading only in April. 

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    The Solana ETF peaked on September 18 and has since formed a bearish island reversal pattern. Over the past seven weeks, it has fallen in five of those, with three weeks recording double-digit declines. 

    This week alone, the ETF has dropped another 19% through just two trading sessions. On the daily chart, a break below the bearish head-and-shoulders pivot at $19 raises concerns of a potential measured move down to $12.

    Ultimately, the report suggests that a potential recovery for the trio would imply further inflows into these exchange-traded funds. This would also indicate a new wave of bullish sentiment returning to the market. 

    The daily chart shows BTC’s increased volatility seen over the past month. Source: BTCUSDT on TradingView.com

    At the time of writing, Bitcoin is trading at $104,190, marking a 3% surge over the past 24 hours. During the same time frame, ETH and SOL also recorded gains of 5% and 4%, respectively. 

    Featured image from DALL-E, chart from TradingView.com 

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    Ronaldo Marquez

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  • Solana Just Booked Its Second-Biggest Week in History Despite Choppy Market

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    Fed hawkishness froze the market, leading to institutions dumping Bitcoin last week, yet Solana funds ballooned.

    Digital asset investment products recorded outflows of $360 million last week despite the market recently digesting yet another US interest rate cut. The selling pressure wasn’t driven by the rate cut itself, but by how investors read Fed Chair Jerome Powell’s language at the post-FOMC press conference.

    Powell made it clear that another cut in December is “not a foregone conclusion,” a surprisingly hawkish communication that appears to have knocked sentiment across the market, especially in the absence of any high-impact US macro data releases that could have helped traders re-anchor expectations.

    Doubling Down On Solana Exposure

    But while the overall flow number skewed negative, Solana emerged as the standout winner yet again after pulling in $421 million in inflows last week. This is the second-largest weekly figure on record, powered largely by inflows into the new US ETFs, which brought Solana’s year-to-date total to $3.3 billion, according to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report.

    Ethereum also saw net inflows of $57.6 million, though the daily flow pattern still shows mixed conviction among investors. XRP came in next with $43.2 million, followed by Sui at $9.4 million, Litecoin at $1.5 million, Cardano at $0.7 million, and Chainlink at $0.5 million. Multi-asset ETPs added another $8.3 million.

    But the drag came from Bitcoin. US Bitcoin ETFs saw a massive $946 million in outflows.

    The United States remained the epicenter of last week’s fund pessimism, as $439 million exited from American-listed investment vehicles. Sweden added another $11 million in outflows during the same period. n. This weakness was partly counterbalanced by other regions. For instance, Germany welcomed $32 million while Switzerland saw $30.8 million.

    Canada, Australia, and Brazil managed smaller but positive totals of $8.5 million, $7.2 million, and $1.3 million.

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    $100K Bitcoin’s “Make-or-Break” Moment

    November has been choppy for the market, and there appears to be no signs of relief. Bitcoin has now spent 180 days above the $100,000 threshold, without a single daily close below it. Swissblock describes this zone as a structural floor and not just a psychological level, but an area built on heavy volume and high confluence. And that sets up November with a sharply asymmetric setup.

    If the crypto asset can continue defending this region, the bullish structure effectively resets, which is expected to give the market room for another upside leg. However, if this floor finally gives way, the analytics firm warned that the chart has very little support underneath.

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    Chayanika Deka

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  • Ethereum Stuck In Tight Price Range — Levels To Watch

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    Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

    Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

    In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

    In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

    Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

    Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

    Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

    Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

    Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

    He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

    In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

    His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

    Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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    Semilore Faleti

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  • Ethereum Support Band Under Pressure — Can Bulls Revive Momentum From $3,700?

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    Ethereum is once again testing the strength of its key support band around the $3,700 zone, a level that has acted as a crucial lifeline for bulls in recent months. With momentum fading after repeated rejections near resistance, speculations are whether buyers can step in to spark a renewed push upward or if a deeper correction is on the horizon.

    ETH Pulls Back After Golden Pocket Rejection

    In his latest market update, Luca shared insights on Ethereum’s current technical setup, noting that the asset recently faced rejection at the high-timeframe resistance zone he had highlighted in earlier analyses. This rejection aligns with the golden pocket between the 0.5 and 0.618 Fibonacci points of interest (POIs). Following this rejection, Ethereum’s price has retreated into the broader accumulation range marked in green on his chart.

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    According to Luca, this accumulation zone has served as a strong reversal area in recent months, providing crucial support whenever price corrections intensified. It also coincides with the Weekly Bull Market Support Band, reinforcing its importance as a potential turning point in Ethereum’s next major move.

    ETH prepping for another upward attempt | Source: Chart from Luca on X

    Despite this, the analyst cautioned that the current market structure appears vulnerable to a breakdown. Luca emphasized that while he remains optimistic about Ethereum’s long-term potential, if the breakdown is confirmed, he plans to stay objective by hedging part of his spot holdings. Doing so, he believes, would help reduce exposure to downside volatility while keeping capital ready to re-enter the market once a more sustainable bullish reversal emerges.

    Luca concluded by reiterating his adaptive trading strategy, a balance between flexibility and discipline. By maintaining moderate cash positions and exposure to defensive assets, he ensures the ability to act quickly when clear opportunities arise while safeguarding capital during volatile market phases.

    Ethereum Holds The Mid-Range Support Zone Between $3,600–$3,700

    According to GrayWolf6, Ethereum is currently trading within a defined range between $3,900 and $3,100, with the price recently touching the mid-range support area around $3,600–$3,700. He noted that the Stochastic RSI is flashing a bullish signal, hinting at the potential for a short-term rebound from this zone as buyers begin to regain momentum.

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    GrayWolf6 further explained that since ETH reached $4,250 just a few days ago, another move toward the upper band remains a possibility. Should the price reclaim strength, the next upside target could extend to around $5,200.

    Despite this optimistic outlook, the analyst cautioned that Ethereum remains confined within the lower range, keeping the downside risk near $3,100 in play. He mentioned taking profits on his earlier short position and is now watching closely for signs of a bounce from this intermediate support level. For him, the strategy remains steady, risk-managed, positions hedged, and the next move is patiently waiting.

    Ethereum
    ETH trading at $3,836 on the 1D chart | Source: ETHUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

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    Godspower Owie

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  • $780M Worth of Ethereum Pulled From Exchanges – Biggest Withdrawal Spike in Weeks

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    Ethereum (ETH) is struggling to break above the $4,000 mark and regain a clear bullish structure, with price action tightening after several failed attempts to reclaim momentum. The market remains cautious following recent volatility, and traders are watching closely to determine whether ETH will resume its uptrend or continue drifting lower. Analysts are currently split: some argue Ethereum’s fundamentals remain strong, fueled by network activity, scaling advancements, and institutional traction, while others point to increasing downside pressure and weakening market structure that could lead to a deeper pullback.

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    Despite the uncertainty in price, fresh on-chain data signals growing confidence among long-term participants. According to Santiment, more than 200,000 ETH — worth approximately $780 million — have been withdrawn from exchanges over the past 48 hours, marking one of the largest short-term outflow spikes this quarter. Such activity typically suggests accumulation, as investors move assets into self-custody rather than keeping them on exchanges to sell.

    Ethereum Supply on Exchanges | Source: Ali Martinez

    This divergence between price hesitation and heavy accumulation reinforces the current market debate. With liquidity dynamics shifting, Ethereum sits at a pivotal moment, and its ability to reclaim $4,000 will likely determine whether bullish momentum re-emerges heading into November.

    Large ETH Withdrawals Signal Investor Conviction As Market Shifts Toward Risk-On Environment

    The recent wave of large Ethereum withdrawals from exchanges further reinforces a growing theme in the market: investor conviction is strengthening. With more than 200,000 ETH moved into self-custody within 48 hours, many participants appear confident in Ethereum’s medium-term outlook, suggesting accumulation rather than distribution. Historically, substantial exchange outflows have coincided with accumulation phases ahead of major market advances, especially when paired with favorable macro shifts.

    For many analysts, Ethereum now sits at the center of a potential bullish impulse across altcoins. Despite its recent struggle to convincingly reclaim the $4,000 level, sentiment in the broader market remains constructive. ETH continues to benefit from fundamental tailwinds, including increasing network utility, expanding Layer-2 activity, and rising staking participation. If market conditions turn decisively risk-on, Ethereum’s role as the primary settlement and liquidity hub for the altcoin ecosystem positions it to lead capital flows.

    Macro conditions are also aligning in ETH’s favor. With the Federal Reserve cutting interest rates by 25 basis points and signaling the end of quantitative tightening, global liquidity is expected to gradually improve. Historically, shifts toward monetary easing have accelerated inflows into risk assets — crypto included. As traditional markets anticipate a clearer pivot, investors may increasingly seek exposure to high-beta assets with strong structural narratives, and Ethereum fits that profile.

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    Ethereum Holds $3,900 as Price Compresses Below Key Moving Averages

    Ethereum (ETH) is trading near $3,905, holding a key support region but struggling to reclaim upside momentum as price remains capped beneath major moving averages. After failing to sustain moves above the $4,200 resistance area earlier this month, ETH has drifted lower into a tightening range, reflecting indecision and reduced volatility following recent macro-driven swings.

    ETH consolidates around $3,900 level | Source: ETHUSDT chart on TradingView
    ETH consolidates around $3,900 level | Source: ETHUSDT chart on TradingView

    The chart shows ETH trading below both the 50-day (blue) and 100-day (green) moving averages, which currently sit just above price and are acting as dynamic resistance. For bulls, reclaiming these levels — particularly a daily close above $4,050–$4,150 — would be a constructive sign that momentum is shifting back in favor of buyers. Such a reclaim could open a path toward retesting $4,300–$4,500, where recent supply pressure has consistently emerged.

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    On the downside, the $3,800 level remains the primary support to watch. A sustained break below this zone could expose ETH to lower levels near $3,500, especially if broader market sentiment weakens. However, the 200-day moving average (red) remains well below the price near $3,200, signaling that the long-term bullish structure is still intact.

    Featured image from ChatGPT, chart from TradingView.com

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    Sebastian Villafuerte

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  • Ethereum’s Fusaka Upgrade Hits Final Testnet – Mainnet Launch Locked for December 3

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    The third and final testnet for Ethereum’s Fusaka upgrade goes live.

    Ethereum’s much-anticipated Fusaka hard fork reached a major milestone on Tuesday with a successful deployment on the Hoodi testnet – its final testing phase before mainnet activation later this year.

    The test, which went live around 18:53 UTC, was the completion of Ethereum’s three-stage simulation process following earlier activations on the Holesky and Sepolia testnets.

    Fusaka Upgrade

    According to the Ethereum Foundation, Fusaka’s mainnet rollout is expected at least 30 days after Hoodi’s activation, while developers tentatively target December 3. The main objective behind the upgrade is to strengthen Ethereum’s scalability, security, and cost efficiency, building on the groundwork laid by April’s Pectra upgrade.

    Fusaka introduces a series of technical improvements spanning more than a dozen Ethereum Improvement Proposals (EIPs). Leading the list is the EIP-7594, or Peer Data Availability Sampling (PeerDAS), which enables validators to verify only portions of data, rather than entire “blobs,” and significantly reduces bandwidth demands and operational costs for validators and Layer 2 networks.

    Other proposals, such as EIPs 7825 and 7935, will adjust gas limits to improve efficiency and prepare the network for parallel execution, while EIPs 7939 and 7951 boost performance and zero-knowledge proving support. These upgrades are designed to lower transaction costs for users and developers while setting the stage for the next phase of rollup scaling.

    Ethereum client teams confirmed smooth progress following Hoodi’s activation. Nethermind stated

    “The Ethereum 𝗛𝗼𝗼𝗱𝗶 𝗙𝗼𝗿𝗸 has been successfully completed and is now running seamlessly on the 𝗡𝗲𝘁𝗵𝗲𝗿𝗺𝗶𝗻𝗱 𝗖𝗹𝗶𝗲𝗻𝘁. Another smooth upgrade, another key milestone on the road to Fusaka. Big thanks to everyone in the ecosystem who helped make it happen – from client teams to researchers and operators.”

    Road Ahead

    Consensys also said that Fusaka “paves the way for parallel execution” and lays the foundation for future network advancements. The rollout will proceed in phases. Following the mainnet launch scheduled for December 3, blob capacity increase is expected to be on December 17, while a second hard fork to expand blob capacity further is slated for January 7, 2026.

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    Ethereum developers have already turned their focus to the next upgrade, dubbed “Glamsterdam,” which is expected to introduce faster block times and further scalability enhancements. Glamsterdam falls under the  “Surge” stage of the network’s roadmap.

    Meanwhile, ETH’s price remained fairly unfazed by the technical development. The altcoin recorded a fresh decline of almost 3% over the past 24 hours and is currently trading below $4,000.

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    Chayanika Deka

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  • Whale Wars: Bulls and Bears Battle for Control on Hyperliquid

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    Lookonchain data shows whales rapidly reshuffling trades amid heightened volatility across BTC, ETH, and SOL.

    This week, the crypto market saw more selling pressure as Bitcoin (BTC) fell below $115,000, causing a tug-of-war between bullish and bearish traders on Hyperliquid.

    Lookonchain’s new whale data shows that top traders are changing their positions in what looks like one of the most intense battles between bulls and bears this month.

    Whales Shuffle Positions as Market Turns Choppy

    According to the on-chain tracker, a group of well-known investors on Hyperliquid have been actively reshuffling their positions during the downturn. On one side, some traders who have done well in the past are keeping big, positive positions, while others are getting ready for the market to drop even more.

    Lookonchain revealed that 0xc2a3, known for having a perfect win rate, closed 2,186 BTC longs worth about $256 million. Even though the anonymous speculator had a lot of exposure, they only made $1.4 million in profit. Additionally, after weeks of making aggressive long trades, they also cut back on their positions in Ethereum (ETH) and Solana (SOL).

    Meanwhile, Machi Big Brother, who was up $44.8 million in realized gains, is now down $12.5 million after doubling down on new ETH and HYPE longs. Another whale, 0xf625, who made $8.3 million during the market crash on October 11, has started shorting ETH again, adding new 10x positions in two wallets in the last 24 hours.

    Market participant 0xddc7, who has an 80% win rate, is said to be losing more than $3.3 million on paper on his short position. However, influencer and public trader James Wynn may be the most cautionary tale. Lookonchain says that almost every recent position he has had has ended in liquidation, including a 40x short on Bitcoin. The analytics platform teased followers on X to “always take the opposite side of James’s trades,” reflecting how increasingly skeptical the community is becoming of his strategies.

    This flurry of repositioning comes after Bitcoin did well, rising past $115,000 following news of a possible trade breakthrough between the U.S. and China lifted risk sentiment. That jump wiped out more than $370 million in short positions and brought the total market cap of all cryptocurrencies back above $4 trillion.

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    Analysts See a Market Reset Rather Than a Breakdown

    Despite the latest retreat, several analysts remain optimistic about the market’s medium-term outlook. Crypto analyst Michaël van de Poppe previously suggested that the altcoin sector has been in a downtrend for nearly four years, which he described as its longest-ever difficult period. But he and other experts say that technical indicators show this phase may be coming to an end, meaning a big price recovery may be on the way.

    Lookonchain’s whale data backs up this mixed narrative, with some big holders locking in profits or taking defensive short positions, and others, like 0xc2a3, building long orders near key support levels, which suggests that they may be banking on the pullback not lasting for too long.

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    Wayne Jones

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  • Evernorth Has Reached 95% Of Its XRP Treasury Target – Here Are The Numbers

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    Evernorth has emerged as the latest powerhouse in institutional crypto accumulation, closing in on its ambitious XRP treasury goal. In just a few days, the firm has reached 95% of its accumulation target, marking a major milestone in XRP’s journey toward broader institutional adoption. The rapid growth of Evernorth’s reserves and its strategic partnerships has sparked renewed excitement across the XRP community, signaling what could be a pivotal shift in how institutions engage with the cryptocurrency. 

    Evernorth Nears $1 Billion In XRP Holdings

    A new report from CryptoQuant has revealed that Evernorth’s XRP holdings is now nearing the $1 billion funding milestone, positioning it among the top institutional holders of the cryptocurrency. According to JA Maartunn, a community analyst at CryptoQuant, Evernorth currently holds 388,710,606.03 XRP, reaching 95% of its $1 billion target. 

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    The company’s total XRP treasury is now valued at approximately $947,183,571, with unrealized profits of roughly $46 million generated in four days. This figure reflects an average purchase price of $2.44 per XRP, which Maartunn believes could become a defining price level for the cryptocurrency’s market trajectory.

    Source: Chart from Evernorth on X

     Notably, Evernorth’s XRP treasury comes amid a broader trend of institutional diversification toward digital assets. Earlier this year, several major crypto treasury institutions—most notably Strategy, with its aggressive Bitcoin accumulation strategy, and The Ether Machine, with its dedicated focus on Ethereum—set the tone for large-scale crypto accumulation. 

    Evernorth’s expanding holdings signal a decisive shift beyond BTC and ETH, underscoring a maturing institutional demand for alternative layer-1 assets. It also suggests that XRP may become the next frontier for institutional treasuries seeking exposure to high-liquidity, regulated crypto assets.

    Evernorth’s XRP Growth Strategy 

    Asheesh Birla, the CEO of Evernorth, introduced the treasury company last week, on October 20, through an X post. He described it as an institutional vehicle built to propel XRP’s global adoption. The announcement detailed the company’s plans to go public through a SPAC merger with Armada Acquisition Corp II (NASDAQ:AACI), targeting gross proceeds of more than $1 billion.

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    Evernorth’s growth strategy includes acquiring XRP through innovative financial structures designed to maximize XRP per share and expanding internationally into key markets like Japan and South Korea. The company also plans to diversify its yield generation through risk-mitigated treasury deployment. These initiatives reflect a deliberate, structured approach toward building a long-term institutional presence around XRP.

    Ripple CEO Brad Garlinghouse has also praised Birla’s initiative, noting Ripple’s partnership and investment alongside prominent firms such as SBI Holdings, Pantera Capital, Kraken, GSR, and Rippleworks. Garlinghouse said that Evernorth’s participation in institutional lending, liquidity provision, and DeFi yield opportunities will be instrumental in expanding XRP’s utility. Ripple’s CTO, David Schwartz, who joins Evernorth as a strategic advisor, echoed this sentiment, expressing enthusiasm for building scalable opportunities for XRP across DeFi and capital markets.

    XRP
    XRP trading at $2.65 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from Adobe Stock, chart from Tradingview.com

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    Scott Matherson

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  • Coinbase Exec Says Big Bitcoin Buyers Have ‘Ghosted’ Since October Crash

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    Corporate Bitcoin buying hits year-to-date lows, and Coinbase warns that only one Ethereum DAT is keeping the institutional demand afloat.

    Coinbase’s Head of Institutional Research, David Duong, observed that Bitcoin digital asset treasury companies (DATs) have “largely ghosted” since the October 10 market drawdown.

    Even during times of brief market recoveries, DATs have shown little sign of re-engagement.

    DATs Have Vanished?

    Over the past two weeks, BTC buying by DATs has fallen to near year-to-date lows, which could be due to limited confidence among large institutional players who typically provide strong market support during periods of conviction. Duong explained that the only consistent buying activity since the correction has come from Ethereum-focused DATs, and even that demand has been narrowly driven by a single player, identified as Bitmine (BMNR), with smaller contributions from other funds.

    Coinbase warned that if BMNR slows or halts purchases, the apparent corporate bid for ETH could quickly fade. Overall, Duong said the muted participation of BTC DATs and the concentration of ETH buying points led to a cautious stance from major balance sheets following the leverage washout. This has left the crypto market fragile at current support levels and warrants a more defensive short-term positioning.

    Even crypto analyst Maartunn echoed similar concerns earlier this week, when he noted that Michael Saylor-led Strategy’s once-aggressive Bitcoin accumulation has slowed dramatically in recent months. After dominating headlines with billion-dollar allocations and weekly purchases exceeding 10,000 BTC at its 2024 peak, the firm briefly reduced its buying pace to just around 200 BTC per week.

    Maartunn added that while the company’s long-term conviction in Bitcoin remains intact, its ability to sustain large-scale purchases has weakened. The analyst emphasized that Strategy “is no longer buying big, but they’re still buying.” However, the company did go on to spend $43.4 million to acquire 390 BTC on Monday.

    Meanwhile, another publicly traded company is making a more assertive move to expand both its crypto and core business operations.

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    Corporate Bitcoin Rush Deepens

    Prenetics Global, a Nasdaq-listed health tech company, has completed a $48 million equity raise that was oversubscribed, in a bid to bolster its Bitcoin treasury reserves and scale up its IM8 supplement brand. The firm revealed on Monday that the offering received strong interest from a range of crypto-focused investors such as Kraken, Exodus, Jihan Wu’s GPTX, DL Holdings, and American Ventures.

    Tennis star Aryna Sabalenka and Hong Kong business magnate Adrian Cheng both deepened their investments, while football legend David Beckham continues to hold shares. Prenetics said that the company may receive up to a total of approximately $216 million if all associated warrants are exercised.

    In a separate development, Nasdaq-listed American Bitcoin Corp., founded by Eric and Donald Trump Jr., has grown its Bitcoin holdings by acquiring 1,414 BTC, which is worth more than $160 million. The company now owns a total of 3,865 BTC, worth close to $450 million as of October 24, sourced from both its mining operations and open-market purchases.

    According to data compiled by BitcoinTreasuries, this latest accumulation places American Bitcoin among the top 26 public holders of the cryptocurrency, ranking just behind Gemini Space Station and ahead of OranjeBTC.

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    Chayanika Deka

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  • Ethereum Supported On Dips — Buyers Build Strength For Next Leg Higher

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    Ethereum price started a decent increase above $4,000. ETH is consolidating gains and could aim for more gains above the $4,220 resistance.

    • Ethereum started a fresh upward move above $4,000 and $4,120.
    • The price is trading above $4,080 and the 100-hourly Simple Moving Average.
    • There is a bullish trend line forming with support at $4,055 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair could continue to move up if it trades above $4,200.

    Ethereum Price Holds Gains

    Ethereum price started a steady upward move above the $3,880 zone, like Bitcoin. ETH price surpassed the $4,000 and $4,120 levels to enter a short-term positive zone.

    The price even spiked above $4,200. A high was formed at $4,252 and the price is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the recent wave from the $3,708 swing low to the $4,252 high.

    Ethereum price is now trading above $4,080 and the 100-hourly Simple Moving Average. Besides, there is a bullish trend line forming with support at $4,055 on the hourly chart of ETH/USD.

    Source: ETHUSD on TradingView.com

    On the upside, the price could face resistance near the $4,180 level. The next key resistance is near the $4,200 level. The first major resistance is near the $4,250 level. A clear move above the $4,250 resistance might send the price toward the $4,320 resistance. An upside break above the $4,320 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,480 resistance zone or even $4,500 in the near term.

    Another Pullback In ETH?

    If Ethereum fails to clear the $4,200 resistance, it could start a fresh decline. Initial support on the downside is near the $4,080 level. The first major support sits near the $4,050 zone and the trend line.

    A clear move below the $4,050 support might push the price toward the $3,980 support or the 50% Fib retracement level of the recent wave from the $3,708 swing low to the $4,252 high. Any more losses might send the price toward the $3,840 region in the near term. The next key support sits at $3,780.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.

    Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

    Major Support Level – $4,050

    Major Resistance Level – $4,200

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    Aayush Jindal

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  • Vitalik Buterin and Anatoly Yakovenko Clash Over Ethereum’s Layer-2 Security

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    Vitalik Buterin and Anatoly Yakovenko debate whether Ethereum’s Layer-2 networks truly ensure security and decentralization.

    A public exchange between Ethereum co-founder Vitalik Buterin and Solana co-founder Anatoly Yakovenko has gotten attention in the X crypto community.

    The debate centered on the level of security that Ethereum’s Layer 2 (L2) networks offer.

    Security and Centralization Risks

    Buterin recently defended Ethereum’s L2 architecture on X, saying that even if 51% of validators collude or suffer a software bug, they cannot steal user assets. However, he acknowledged that there are limitations if the validator set is trusted with tasks outside the chain’s control. He explained that in such a scenario, more than half of them could then collude and provide a false answer with no recourse.

    Yakovenko challenged this view, arguing that the claim that L2s inherit Ethereum’s security is incorrect. “The promise of L2s != the reality of L2s,” he wrote. He pointed out that five years into the L2 roadmap, Wormhole ETH on Solana faces the same worst-case risks as ETH on Base while generating comparable revenue for ETH L1 stakers.

    The Solana co-founder suggested that there is an inherent flaw in the networks that makes achieving the desired security difficult. He highlighted several major issues with how L2s function today. Their complex codebases create broad attack surfaces that are difficult to audit thoroughly.

    Multisig custody setups can also allow funds to be moved without user approval when signers collude or are compromised. Additionally, off-chain execution systems concentrate too much control in a few hands, undermining the decentralization that blockchain is meant to uphold.

    Yakovenko Proposes Ethereum as a Solana Layer-2

    Yakovenko has proposed creating a dedicated bridge that would let Ethereum operate as a layer-2 on Solana to enable smooth asset movement between the two. He noted that this approach would not require any changes to the blockchain itself, and as zero-knowledge proving on the chain continues to evolve, the process will become even easier.

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    Ethereum currently supports more than one million active validators, far exceeding Solana’s estimated 2,000. Supporters like crypto lawyer Gabriel Shapiro believe that this wide validator base strengthens protection against coordinated attacks.

    He explained that many critics either misunderstand or intentionally ignore that L2s are not simple servers running a blockchain. Since they are linked to Ethereum, specific transactions can be enforced within blocks, meaning decentralization on their level is unnecessary because the network itself provides that security.

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    Wayne Jones

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  • Ethereum Moves Higher — Buyers Strengthen Grip Amid Renewed Market Optimism

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    Ethereum price started a recovery wave above $4,000. ETH is moving higher but faces a couple of key hurdles near $4,220 and $4,250.

    • Ethereum started a fresh recovery above $4,000 and $4,120.
    • The price is trading above $4,120 and the 100-hourly Simple Moving Average.
    • There is a bullish trend line forming with support at $4,050 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair could continue to move up if it trades above $4,220.

    Ethereum Price Eyes Steady Gains

    Ethereum price started a minor recovery wave above the $3,880 zone, like Bitcoin. ETH price surpassed the $4,000 and $4,050 levels to enter a short-term positive zone.

    The price even spiked above $4,220. A high was formed at $4,225 and the price is now consolidating gains. The price is stable above the 23.6% Fib retracement level of the recent increase from the $3,708 swing low to the $4,225 high.

    Ethereum price is now trading above $4,150 and the 100-hourly Simple Moving Average. Besides, there is a bullish trend line forming with support at $4,050 on the hourly chart of ETH/USD.

    Source: ETHUSD on TradingView.com

    On the upside, the price could face resistance near the $4,220 level. The next key resistance is near the $4,250 level. The first major resistance is near the $4,320 level. A clear move above the $4,320 resistance might send the price toward the $4,450 resistance. An upside break above the $4,450 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,500 resistance zone or even $4,550 in the near term.

    Another Decline In ETH?

    If Ethereum fails to clear the $4,220 resistance, it could start a fresh decline. Initial support on the downside is near the $4,150 level. The first major support sits near the $4,120 zone.

    A clear move below the $4,120 support might push the price toward the $4,050 support. Any more losses might send the price toward the $4,000 region in the near term. The next key support sits at $3,880.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

    Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

    Major Support Level – $4,120

    Major Resistance Level – $4,220

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    Aayush Jindal

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  • Ethereum Whales Start Buying Back: 218K ETH Added In A Week After October Dump

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    Ethereum’s largest non-exchange holders are tiptoeing back into accumulation. On-chain analytics platform Santiment reported that wallets holding between 100 and 10,000 ETH, also known as whales and sharks, have begun to rebuild positions after unloading roughly 1.36 million ETH between October 5 and 16. 

    Notably, the Ethereum collective holdings chart shows that nearly one-sixth of those coins have already been clawed back, as some confidence starts to return to the second-largest crypto asset.

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    Whales Reverse Course After Early-October Capitulation

    The first half of October was highlighted by one of Ethereum’s most pronounced periods of capitulation this year. Macroeconomic fears due to US tariffs saw the Bitcoin price undergo a flash crash that dragged many altcoins to the downside. During this move, Ethereum’s price also fell very quickly, dropping from highs around $4,740 on October 7 to as low as $3,680 on October 11. 

    Interestingly, on-chain data shows that the selling pressure from large holders amplified this move, as the chart from Santiment shows a steep decline in their cumulative holdings from about 24.5 million ETH to roughly 22.6 million ETH. This 1.9 million ETH drop reflected clear risk-off behavior among whales and sharks, who had been net buyers since August.

    However, once selling momentum began to fade, accumulation started to return. Institutional inflows started to return into Spot Ethereum ETFs, and whale/shark trades started accumulating Ethereum. Since October 16, the same cohort that contributed to the liquidation has begun adding back to their positions. Santiment noted that these holders are finally showing some signs of confidence, demonstrating an incoming extended recovery phase following the shakeout.

    ETHUSD now trading at $3,953. Chart: TradingView

    218,470 ETH Added In Last 7 Days

    According to Santiment’s data, the collective holdings of addresses with 100 to 10,000 ETH have rebounded to approximately 23.05 million ETH after bottoming out in mid-October. A highlighted annotation on the chart shows that 218,470 ETH were accumulated in just the past week, signaling a tangible shift in on-chain behavior. 

    Ethereum collective holdings of wallets holding 100-10,000 ETH. Source: Santiment

    This increase represents roughly one-sixth of the coins previously dumped, a sign that major investors are gradually re-entering the market after what appeared to be an exhaustion phase. Similar accumulation trends have often preceded a broader recovery in Ethereum’s price, especially when accompanied by stabilization in the ETH/BTC trading pair.

    As it stands, the Ethereum price appears to be building a firmer base for the next phase of its recovery heading into November. When whale wallets accumulate, it reduces the circulating supply available on exchanges and reduces selling pressure.

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    At the time of writing, Ethereum is trading at $3,940 and is on track to break and close above $4,000 again. Both Ethereum and Bitcoin have risen a bit in recent days after inflation report showed US inflation cooling to 3% in September, below the 3.1% forecasted by economists. 

    Featured image from Unsplash, chart from TradingView

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    Scott Matherson

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  • Ethereum Sharks and Whales Are Back: What Does it Mean for ETH’s Price?

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    After dumping over 1.3 million tokens in the span of 11 days, big Ethereum wallets —known as sharks and whales —have returned and started reaccumulating at an impressive pace.

    At the same time, Tom Lee, who has been behind Bitmine’s sizeable ETH purchases over the past several months, remains highly bullish on the asset, indicating that leverage has been wiped out and it’s clear for takeoff.

    Whales Are Back

    Santiment reported that these wallets, holding between 100 and 10,000 ETH, had disposed of 1.36 million coins between October 5 and 16. At the time, ETH’s price was quite volatile, surging beyond $4,750 only to dump beneath $3,500 during the October 10 market-wide crash.

    However, their behaviour has changed in the past week or so, and they are “finally showing some signs of confidence.” The analytics platform added that they have added back “close to 1/6th” of the sold-off stash since then and classified it as a “positive sign for crypto’s #2 market cap.”

    Tom Lee also weighed in on the October 10 crash, which was primarily driven by excessive leverage used in futures trading. Recall that over $19 billion was wiped out, with more than 1.6 million traders wrecked in less than 24 hours. Lee, who spearheads the largest ETH treasury company and holds nearly $13 billion in the asset, recently noted that open interest for BTC and ETH has fallen to historic lows, which could open the door to a “crypto rally into the end of the year.”

    ETH’s Price Meaning?

    Large investors, such as sharks, whales, and corporations, buying substantial portions of a certain asset is typically regarded as a bullish development for it because they reduce the immediate selling pressure. The crypto community is also filled with big price predictions for ETH, with the most talked-about targets at $5,000 and $10,000.

    While the first seems quite possible for the short-term, given the fact that ether came inches away from it a few months back, the second is a bit far-fetched at the moment. Ali Martinez also outlined it in a recent post and said ETH will eventually hit it, but “just not as soon as you think.”

    The post Ethereum Sharks and Whales Are Back: What Does it Mean for ETH’s Price? appeared first on CryptoPotato.

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    Jordan Lyanchev

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  • Ethereum Whales Quietly Accumulate As Stablecoin Usage Skyrockets 400%

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    Reports have disclosed a 400% rise in stablecoin transfers on Ethereum over the last 30 days, pushing total transfer volume to $581 billion and more than 12.5 million transfers, according to Token Terminal.

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    The stablecoin market cap on Ethereum now tops $163 billion. At the same time, Ethereum has fallen about 4.50% in the past week, and briefly tested support near $3,738, which some traders called a buying opportunity.

    Whales Step In With Large Buys

    On-chain trackers show heavy buying from large holders. A newly created wallet, 0x86Ed, spent $32 million to pick up 8,491 ETH in roughly three hours, based on Arkham Intelligence records.

    ETHUSD currently trading at $3,987. Chart: TradingView

    Another high-profile account monitored by LookOnChain moved 284K USDC into Hyperliquid after recent liquidations, apparently to maintain long exposure to ETH.

    Reports say October’s stablecoin transaction volume on Ethereum passed $1.91 trillion for the second time on record, a sign that big flows are still moving through the network.

    Institutions Are Increasing Exposure

    CryptoQuant and exchange data point to a rise in institutional interest. CME futures open interest for ETH has climbed, suggesting larger players are setting positions ahead of a potential price move.

    Fundstrat’s Tom Lee was cited saying ETH could head toward $5,000 if the ETH/BTC ratio clears the 0.087 resistance. Matt Sheffield, CIO at Sharplink Gaming, told analysts that past liquidations did not stop real use and that the scale of payments on legacy systems — SWIFT processes about $150T a year — shows how much room exists for stablecoins to grow on Ethereum.

    Technical Setups Show Clear Levels To Watch

    Technical analysis experts have noted a confluence of indicators near today’s prices. Currently, ETH is trading near $3887, just above the significant Fibonacci retracement of 0.618 at $3781.

    The 0.786 retracement is near $3,640 with the level of formal invalidation set at $3443. Some technicians have pointed to a triple bottom trading pattern around $3600, as well as the potential for a new accumulation reading from a Wycoff re-accumulation pattern which could lead to higher targets (notably $5125 at the 1.618 extension.

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    Balance Between Flow And Risk

    In sum, with heavy stablecoin flow, whale buying, and increasing interest in futures, this has created a basis for bullish calls into the $5000 range.

    That said, chart patterns fail, on-chain movements may not lead to changes in price, and traders who remain cognizant of the ETH/BTC ratio, the invalidation line at $3443, and whether large transactions are transferring or being used for longer-term custody, may get more clarity in the coming sessions.

    Featured image from Motion Island, chart from TradingView

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    Christian Encila

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  • Jamie Dimon’s JPMorgan Embraces Crypto: BTC and ETH to Be Used as Collateral (Report)

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    The banking giant first dabbled with the idea earlier this year.

    After years of bashing and criticizing bitcoin and the rest of the cryptocurrency market, Jamie Dimon’s JPMorgan Chase & Co. appears a lot more positive toward the industry, and the latest push will reportedly allow institutional clients to use BTC and ETH as collateral for loans.

    The Bloomberg report indicated that the crypto-related program will be offered globally and will rely on a third-party custodian to safeguard the assets.

    Recall that such speculations first emerged earlier this summer when the Financial Times revealed the initiative could launch in 2026. However, those rumors were met with significant doubt, given Dimon’s previous stance against the industry.

    The CEO has a rich history of criticising the largest cryptocurrency by market cap. Some of his most colorful categorizations include calling bitcoin a “decentralized Ponzi scheme” and alleging that only criminals use it.

    However, his stance softened in the past few years, especially since Donald Trump’s presidential election victory in late 2024 and the subsequent regulatory change in the country. Although he remained a skeptic, Dimon said he would defend people’s right to buy bitcoin.

    JPMorgan is far from the first giant US banking institution to join the cryptocurrency craze. Morgan Stanley and BNY Mellon have been active participants for a long time, while other former naysayers like Standard Chartered have gradually changed their public views as well in recent years.

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    Jordan Lyanchev

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  • Ethereum Stays Steady Above Realized Value – Can Fresh Liquidity Fuel The Next Breakout?

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    Ethereum (ETH), the second-largest cryptocurrency by market cap, continues to trade slightly below the psychologically important $4,000 price level, following the brutal drawdown on October 9, which saw the digital currency test the support at around $3,435.

    Ethereum Stays Above Realized Price – Bullish Momentum Soon?

    According to a CryptoQuant Quicktake post by contributor TeddyVision, Ethereum is trading above its Realized Price at approximately $2,300. Dubbing the price level a “fundamental support zone,” the analyst said that historically, any dips below this level have marked a capitulation phase.

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    For the uninitiated, Realized Price represents the average cost basis of all ETH holders, calculated by dividing the total value of all ETH at the time they last moved on-chain by the current circulating supply. 

    Realized Price effectively shows the “true” average price investors paid, serving as a key indicator of whether the market is in profit or loss. As long as ETH trades above Realized Price, the market structure is likely to remain bullish.

    The analyst also highlighted Ethereum’s Market Value to Realized Value (MVRV) ratio. Notably, ETH holders are currently, on average, at 67% profit relative to their cost basis. This metric gives two major hints about the current market.

    Source: CryptoQuant

    First, it shows that although the market is profitable, it is still far from “overheated” levels. Second, it indicates that market participants are confident about the market’s upward momentum, but not quite euphoric.

    To explain, the MVRV ratio compares the market value of an asset to its realized value. A higher MVRV indicates holders are sitting on larger unrealized profits – often signaling potential overvaluation – while a lower MVRV suggests undervaluation or market fear.

    Further, TeddyVision noted Ethereum’s reaction from the Upper Realized Price Band, which is currently located around $5,300. The analyst remarked:

    Price pulled back before reaching the “Overheating Zone. This isn’t a reversal – it’s a consolidation phase after distribution, a healthy cooldown without structural damage.

    Finally, spot inflows of ETH to crypto exchanges are also slowing down, hinting that the next leg up for the digital asset will likely depend on fresh liquidity, and not leverage. To sum it up, Ethereum is slowly moving from the distribution phase to the consolidation phase.

    Is It A Good Time To Buy ETH?

    While providing reliable future predictions in the crypto market remains a challenging task, fresh on-chain and exchange data point toward ETH regaining its bullish momentum. For instance, Binance funding rates recently hinted that ETH could surge to $6,800.

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    Similarly, ETH reserves on exchanges continue to fall at a rapid pace. Earlier this month, ETH supply on exchanges hit a multi-year low, increasing the probability of a potential “supply crunch” that can dramatically increase ETH’s price.

    That said, crypto analyst Nik Patel recently cautioned that ETH’s price correction may not yet be fully over. At press time, ETH trades at $3,849, up 0.3% in the past 24 hours. 

    ethereum
    Ethereum trades at $3,849 on the daily chart | Source: ETHUSDT on TradingView.com

    Featured image from Unsplash, charts from CryptoQuant and TradingView.com

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    Ash Tiwari

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