Ethereum Price Slips Below Whale Cost Basis — More Pain For Bulls?
In line with its bearish market structure, the Ethereum price struggled significantly in the first week of February. The cryptocurrency’s value fell by more than 30% over the week, crashing to as low as $1,850 on Friday, February 6. Amid the Ethereum market downturn, a significant development has emerged — one which could make or […]
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The price paid for “whale coins” is revealed as a potential new bear market bottom zone for BTC. Bitcoin (BTC) has a new downside price target as more research highlights the potential role of whales in setting a macro floor.In the latest edition of its weekly newsletter, The Week On-Chain, analytics firm Glassnode provided fresh insight into Bitcoin's "whale cost basis."Aggregate price paid joins whale support linesBTC price action is currently all about sideways movements and some of the lowest volatility ever seen.As analysts prepare for big changes, however, Glassnode is considering....
Bitcoin bulls should expect pain ahead even as the cryptocurrency has added more than $1,000 to its value in the last five days. Bitcoin breaks $12,000 in the latest rally. Source: BTCUSD on TradingView.com So says Joe007, a pseudonymous entity that was once the most successful traders on the BitFinex crypto exchange. The former whale […]
A report from the on-chain analytics firm Glassnode has revealed a Bitcoin price region that could prove to be crucial for the bulls. Several Key Bitcoin Metrics Are Pointing At The Same Price Range Right Now In its latest weekly report, Glassnode has discussed the Bitcoin investor cost basis from various angles. The first indicator that the analytics firm has shared is the “UTXO Realized Price Distribution” (URPD), that basically tells us about how the BTC supply is distributed among the different price levels based on the last transaction value. Related Reading: Litecoin....
Ethereum is trading above the $3,200 level as bulls attempt to push the price back toward higher resistance zones, but market sentiment remains fragile. Fear and uncertainty continue to dominate as several analysts warn that the broader trend may still point toward a potential bear market. Yet, beneath the volatile price action, key on-chain data is revealing a development that could shape Ethereum’s next major phase. Related Reading: Bitcoin Whales Refuse to Sell: Historic Signal Emerges As Binance CDD Drops To 2017 Levels According to a new report from CryptoQuant, a historic signal tied....
On-chain data suggests an Ethereum close under the $1,530 level could lead to a significant drawdown for the cryptocurrency. Ethereum Support Levels Below $1,530 Are Very Thin Currently In a new post on X, analyst Ali has discussed what the support and resistance levels of Ethereum are looking like right now. These support and resistance levels aren’t the technical ones, however, but rather ones based on on-chain analysis. The support and resistance levels here are defined based on the density of investors’ cost bases. The “cost basis” here refers to the average....