Ethereum has been trading sideways between $2.4k and $2.5k, with $2.5k acting as a strong resistance level. Abraxas Capital has aggressively shorted $353 million worth of ETH but is hedging its position by buying $32.39 million in spot ETH to manage liquidation risks. Meanwhile, a declining Exchange Supply Ratio suggests that supply is tightening, which could lead to a price breakout above $2.5k, potentially reaching $2.8k if spot buying continues. Momentum indicators remain positive, supporting a cautiously bullish outlook despite the current consolidation.
Ethereum developers are introducing the Frames (EIP-8141) upgrade, enabling users to pay gas fees with stablecoins instead of ETH. This change decouples transaction fees from ETH's price, potentially increasing Ethereum's accessibility and utility. W...
Polkadot's token price jumped up to 20% driven by a short squeeze, increased on-chain activity, and governance proposals that could reduce token supply. Traders are pricing a 58% chance of a Federal Reserve rate hike next week, which contrasts with B...
Abraxas Capital purchased 13,000 ETH worth about $32.39 million to hedge a large short position of 141,180 ETH valued at $353.27 million on Hyperliquid. The firm is maintaining both the short and spot positions simultaneously as part of a market-neut...
Bitmine Immersion Technologies purchased 28,086 ETH last week, worth about $69.4 million, bringing its total holdings to 5,929,198 ETH. The company aims to own 5% of Ethereum's total supply and needs around 171,000 more ETH to reach this goal. Despit...
Wintermute reports that despite recent volatility, Bitcoin's rally toward $80,000 is ongoing, driven by institutional investors and AI miners entering the market early. Unlike past cycles with steep crashes, this cycle shows a smaller drawdown, sugge...
