Ethereum is close to experiencing its first-ever three consecutive monthly losses, marking a historic low in its trading history. The asset has already declined 29.1% in Q1 2024 and is currently in negative territory for Q2, with May's performance worsening the outlook. Technical indicators show Ethereum trading below key moving averages and testing critical support near $2,000, while institutional demand remains weak. However, the Relative Strength Index indicates oversold conditions, suggesting potential for a recovery rally if buyers view current prices as attractive. The coming weeks will be crucial in determining whether Ethereum breaks this losing streak or sets a new record for consecutive declines.
Bitcoin has fallen about 3% over the past week to around $73,800, influenced by geopolitical tensions and ongoing capital outflows from Bitcoin spot ETFs totaling nearly $3 billion since mid-May. Analyst Michael van de Poppe highlights $71,000 as a c...
Ethereum is trading around $2,030, with a significant concentration of high leverage short positions near $2,050, identified as a major short liquidation zone. This clustering suggests that if Ethereum's price breaks above $2,050, it could trigger a ...
Bitcoin ETFs have experienced ten consecutive sessions of capital outflows, with $125.31 million withdrawn recently, and Ethereum ETFs have seen 14 sessions of net withdrawals totaling $17.91 million. Despite these outflows, investors are not exiting...
Bitmine has purchased 25,000 Ethereum tokens valued at over $50 million in a single transfer from Kraken, reinforcing its status as the world's largest ETH holder. This move follows a larger $237 million ETH purchase a week earlier, signaling a stron...
Ethereum's network-wide 8-hour average funding rate stands at 0.0035%, indicating a slight preference for long positions in perpetual futures markets. This positive but modest rate suggests mild bullish sentiment, though it also highlights the risk o...
