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 short squeeze, pushing prices higher. Additionally, technical analysis points to an inverse head and shoulders pattern forming, which typically signals a bullish reversal, though confirmation depends on a clear breakout above this level. Investors are watching closely for this breakout to confirm a potential upward trend in Ethereum's price.
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 wo...
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...
Bitcoin ETFs have experienced ten consecutive sessions of capital outflows, with $125.31 million withdrawn recently, and Ethereum ETFs have seen 14 sessions of net withdrawals totaling $17.91 million.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...
