Glassnode
Ethereum has climbed back above the 1-3 month holder cost basis at $2,300, a level that acts as a key psychological and on-chain anchor for recent buyers. Reclaiming it removes underwater pressure for that cohort and is a necessary condition for any sustained recovery.
That said, the current structure more closely resembles a bear-market relief rally than a structural trend reversal — the pattern is comparable to the bounces seen in Q3-Q4 2022, which ultimately failed to hold. Bulls will need to see follow-through and broader market confirmation before the reversal thesis gains credibility.
CryptoSlate
Lookonchain
Benjamin Cowen
Crypto News