Ethereum rolled back to $4,200, losing more than 12% from its peak. The second-largest coin by capitalisation seems to be seriously aiming to test the strength of the former resistance area near $4,100, which has been holding back price growth since March 2024. The ability to stay above this level will indicate a change in the market regime for this cryptocurrency. The abundant capital inflows also point to this.
Crypto News
According to CoinShares, global investment in crypto funds rose more than sixfold last week to $3.748 billion, the highest inflow in the last four weeks. Investments in Bitcoin increased by $552 million, Ethereum jumped by $2.868 million, Solana grew by $177 million, XRP by $126 million, and Sui by $11 million.
According to Glassnode, the number of addresses with a balance of more than 10,000 BTC fell to an annual low, and the number of wallets with 1,000–10,000 BTC also decreased. This indicates that large holders are taking profits after reaching record highs.