Ethereum has rebounded above the $3,000 price market.Bullish sentiment is gaining momentum among investors, especially those on centralized exchanges. Despite the sideways movements in the market, the overall ETH supply on cryptocurrency exchanges has declined sharply, reaching unprecedented levels.
Lowest supply of Ethereum on exchanges
The latest signals from on-chain indicators are: Ethereum The market environment is undergoing quiet but significant changes. This developing trend is due to a sharp decline in the supply of ETH available on cryptocurrency exchanges.
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like reported According to Coin Bureau on social media platform X, ETH supply on centralized exchanges has reached levels not seen in years. This severe supply shortage signals a shift in investor behavior as more holders opt for long-term storage, staking, and self-storage rather than keeping their assets tradable.
data ETH percentage balance on exchange According to the indicator, a total of 8.7% of the Ethereum supply available on exchanges is at its lowest level since ETH launched in 2015.
As exchange reserves decline, structural pressure on the circulating supply of ETH is increasing, which could create a scenario for a more explosive price environment. Coin Bureau reports that several cryptocurrency analysts are now warning that a liquidity tightening could occur. spark a powerful rally Once demand recovers.
Medium whale holders still exist in the market.
Despite the rapid withdrawal of ETH from exchanges, selling pressure still remains in the market. Ethereum Accumulation Heatmap. After reviewing metrics from Alphractal, an advanced investment and on-chain data analytics platform, exposed Wallet addresses holding 1,000 ETH to 10,000 ETH, or mid-sized whales, are offloading their holdings, indicating that sentiment among the group is weakening due to ongoing market fluctuations.
Indicators show that these investors have made large distributions near the top of the price. The cohort were those who took advantage of the euphoria to secure profits while others celebrated all-time highs.
What's interesting is that these investors are still selling, putting strong bearish pressure on the market, which is likely to fuel the current bear wave. Meanwhile, a wallet address holding at least 10,000 ETH or Mega whale holder The relatively light spread is much more neutral and shows no panic or aggressive buying, at least not yet.
These trends suggest that supply behavior is not fully aligned with the euphoria of retail investors. these accumulation Distribution patterns are important to gauge who is actually driving the price movements of ETH. It also determines who is quietly heading to the exit while others are still coming in.
At the time of writing, ETH price is trading at $3,135, up more than 3% in the last 24 hours. Bullish sentiment appears to be strongly recovering, as trading volume has increased by more than 142% over the past day.
Featured image from Freepik, chart from Tradingview.com
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