Overview
- ETH traded near $2,100 after dropping to about $2,067, with roughly $100 billion in market value wiped out over the past week.
- Analysts highlight $2,000–$2,200 as the decisive band, warning that a break below $2,000–$2,100 could trigger fresh liquidations, while $2,400–$2,550 remains the first resistance to reclaim.
- On-chain signals weakened as Glassnode’s 30‑day Hodler Net Position Change fell nearly 90% since mid‑January and CryptoQuant flagged a transfer‑count spike associated with past market inflection points.
- Wallets linked to Vitalik Buterin sold about 2,961.5 ETH worth roughly $6.6 million, spot ETH ETFs recorded a $79.4 million net outflow, and a reported BlackRock transfer to Coinbase Prime added to liquidity concerns.
- Leverage has been reduced by heavy ETH liquidations exceeding $300 million, yet network engagement and staking stay elevated, including a validator entry queue of about 71 days.