Ethereum Holders Might Soon Exit As Addresses In Profit Reach A Low: Will ETH Price Regain Momentum?
Ethereum Ethereum Holders Might Soon Exit As Addresses In Profit Reach A Low: Will ETH Price Regain Momentum? Balita ng Ethereum ng Bitcoin Ethereums value has shown strong bearish tendencies recently, dropping past key levels in just a week. As Bitcoin struggles with the $26K mark, ETH is on the brink of breaching a vital support level. Additionally, multiple on-chain metrics are now leaning towards bearish signs, with investors growing restless as the number of profitable addresses hits a several-month low. These Ethereum Metrics Might Trigger Negative Sentiment Recent on-chain metrics have raised concerns in the altcoin market, suggesting a potential bearish trend for Ethereum in the coming days. Two metrics, in particular, stand out: the Ethereum Percent Addresses in Profit and the Ethereum Number of Addresses Holding 32+ Coins. Both the metrics have witnessed a steady decline recently, suggesting rising negative momentum on the price chart. According to Glassnode, the Ethereum percent addresses in profit has plummeted to an 8-month low, standing at just 52.302%. This means that 48% of Ethereum holders are currently in loss, a concerning figure given Ethereums historical performance. A decline in this percentage can indicate a growing number of investors who bought at higher prices are now facing potential losses.