Ethereum Although we saw a brief bounce on Thursday, the $2,000 price level once again proved to be a strong resistance area, negating the bullish move back to $1,900. This brief rebound could be linked to a renewed sentiment among investors toward accumulation, which appears to have reached key levels not seen in years.
Ethereum price falls, confidence rises
After weeks of selling pressure. worsening market conditionsThere has been a significant increase in purchasing activity and interest in Ethereum, the second largest cryptocurrency asset. On-chain data shows renewed buying pressure from investors has reached historic levels.
As described in shared data According to cryptocurrency analyst and investor Batman, ETH is experiencing one of the strongest accumulation phases in years. ETH has made history again despite its price continuing to trend lower. This marks a pivotal moment for the leading altcoin and its future prospects.
Increasing buyer confidence and decreasing value gap indicate that long-term players are positioning cautiously amid weakness rather than retreating from turbulence. The continued capital flow from investors shows confidence in Ethereum’s long-term plans despite the immediate circumstances. market pressure.
The current pattern could set the stage for the next near-term structural move in altcoins as selling pressure collides with steady accumulation. in Another X postBatman also said that there has been an increase in savings among newly created wallet addresses. Based on 24 hours of Ethereum flow data, over $490.9 million was moved to newly created wallet addresses.
Interestingly, this notable new capital is 2.4 times higher than average, indicating a significant increase in activity today. During the period, the whale wallet address also secured an inflow of approximately $39.2 million, an increase of 30.7 times the average.
Additionally, top PnL wallets recorded inflows of $46.9 million, 12.2x more than average, while exchange wallets recorded outflows of $56.9 million, which is still a bullish signal. whale accumulation, exchange leakAnd the large influx of new wallets all indicate significant accumulation activity.
Investors are accumulating more ETH than Bitcoin.
While Ethereum attracts a wave of aggressive accumulation large holderThese investors’ net purchases now far exceed their net purchases of Bitcoin. High net worth investors increasing their positions in ETH hints at the altcoin’s solid state compared to BTC. Differences in accumulation patterns increase the likelihood of capital circulation occurring as key players in the ETH ecosystem move ahead. possible catalyst.
according to According to CW, verified author of CryptoQuant, whales have been quietly purchasing large amounts of ETH in volatile market environments. Interestingly, the expert pointed out that the group is particularly focused on positioning in the futures market.
At the time of writing, the price of ETH was trading at $1,957 after falling more than 1% in the last 24 hours. Volume has been falling along with prices, falling more than 11% over the same period, according to data from CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com
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