Overview
- ETH trades in the high-$2,900s after multiple failed reclaims of $3,000, following a rejection near $3,350 on January 18.
- OI‑weighted funding has compressed to about 0.0008% and is nearing negative territory, with $64.34 million in 24‑hour liquidations led by $52.52 million in long positions.
- Aggregate open interest stands near 13.36 million ETH (about $39.19 billion), indicating persistent leverage even as price weakens.
- BitMine staked an additional 171,264 ETH, bringing its staked total to roughly 1.94 million ETH and total holdings to about 4 million ETH, with guidance of over $400 million in annual staking income.
- Analysts highlight $2,900 as a near-term line in the sand and point to $2,800–$2,850 as a likely liquidity zone, while noting resistance clusters around $3,050–$3,100 for any rebound attempts.