ETH Holds $2,690 as Leverage Falls and ETF Streak Ends
Lower derivatives exposure may ease liquidation risk, but ETH still needs spot buyers to defend support and clear resistance.
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Lower derivatives exposure may ease liquidation risk, but ETH still needs spot buyers to defend support and clear resistance.
A historical fourth-quarter average puts $147,000 on the math, but heavy supply above $84,000 and rising bond yields make sustained spot demand the nearer test.
The pullback comes as traders await August PCE inflation data, with rising yields and oil prices keeping pressure on rate-sensitive markets.
Bitcoin and Ether traded lower even as the Fear & Greed Index remained in Greed territory, leaving sentiment upbeat while prices softened.
Spot demand has contracted by about 170,000 BTC in 30 days, while speculative futures demand fell 90% in 15 days, raising the bar for further gains.
Profit-taking has not broken the broader setup: eight of CryptoQuant’s 10 indicators are bullish, while spot and futures demand expand together.
Spot buyers are quietly absorbing supply while derivatives traders sit on their hands. That divergence between accumulation and hesitation is the setup traders are watching before the next…
The eight-week ETF outflow streak broke and spot selling collapsed to 53 BTC a day from June's 2,000. The bid is returning, but derivatives traders, not spot buyers, are driving the rebound.
The setup is constructive across spot flows, on-chain positioning and options — but realized-cap growth is still running at roughly a quarter of prior bull-expansion pace, which is why conviction…