ETH Reclaims 1-3 Month Holder Cost Basis Near $2.3K

Ethereum has reclaimed the 1-3 month holder cost basis around $2,300, a level that had acted as resistance through the recent drawdown. The move comes as part of a broader wave of positive momentum across crypto markets over the past several sessions.

Why it matters

The 1-3 month cohort represents capital that deployed during the most recent leg up — the buyers who set the marginal price. When price reclaims their cost basis, it typically shifts two flows: short-term holders stop underwater and stop selling into strength, and longer-term holders regain a reference point for adding. Both effects reduce the supply overhang that built up while price was below the level.

Market impact

The reclaim is consistent with a bear market relief rally rather than a structural trend reversal, the analyst noted, drawing a parallel to the Q3-Q4 2022 bounces where similar cost-basis reclaims preceded extended consolidations rather than sustained breakouts. Watch for follow-through above the level on rising volume — without it, the move risks fading back into the prior range.