Ethereum Trades Near Whales’ Cost Basis For The Fourth Time Since 2021 – Hist...
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....
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In this month’s The Bitcoin Monthly, ARK Invest focused on Ethereum and the Merge. As a side dish, they did publish some premium and review-worthy stats that we’re about to cover. Never mind the market, the Bitcoin network keeps producing block after block regardless. The stats that this whole activity produces can be critical in understanding the market, though. Related Reading: WATCH: Waiting On The Bitcoin Monthly: Will Crypto Sink Or Soar? BTCUSD August 31, 2022 That’s where ARK Invest’s The Bitcoin Monthly comes in. The publication defines itself as “an “earnings report”....
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....
Data from Glassnode shows the Bitcoin long-term holder cost basis is currently above the realized price of the crypto. Bitcoin Long-Term Holder Cost Basis May Have Hints For Bear Market Length As per the latest weekly report from the analytics firm Glassnode, the LTH cost basis has remained below the realized price for a period […]
Ethereum trends show it’s becoming more valuable as ETH 2.0 draws near. Thus, institutional investors are clamoring to get in on the action before it is too late. A signal for this has been ETH Futures have been trading at a higher basis premium than BTC Futures on CME. ETH Futures have continuously traded at a higher rolling basis than BTC Futures for the past three months. This could show that institutional investors are more bullish on ETH’s future in comparison to BTC. But other factors have also led to the ETH Futures trading so high. Related Reading | Ethereum Fee Burns Clocks....
On-chain data shows the true market mean price of Bitcoin is valued at $29,700 right now, making the level of particular significance for the coin. Bitcoin True Market Mean Price Is At $29,700 Currently In a new post on X, the lead on-chain analyst at the on-chain analytics firm Glassnode, “Checkmate,” pointed out how the BTC price currently trades below the true market cost basis. The “market cost basis” refers to the average price at which the investors in the sector bought their coins. One popular way of calculating this cost basis is through the “realized....