Net exchange outflows consistently topping -40k ETH daily for the past 72 hours signals aggressive spot accumulation, diminishing available sell-side liquidity. Derivatives funding rates across major perpetuals have normalized from post-halving highs but remain marginally positive, supporting a healthy long base without excessive leverage. ETH's staked supply continues its upward trajectory, now constituting over 26% of total supply, effectively reducing liquid float available for sale. On-chain velocity remains subdued, reinforcing HODL sentiment. Technicals show a decisive bounce off the 0.618 Fibonacci retracement level at $2085, establishing strong underlying support. With BTC maintaining its market dominance above $60K, macro tailwinds are firmly in play. Expect a retest and breach of the $2250 immediate resistance before April 27, driven by fundamental supply-side shocks and renewed capital inflows. 92% YES — invalid if BTC breaks $58K support.
Net exchange outflows consistently topping -40k ETH daily for the past 72 hours signals aggressive spot accumulation, diminishing available sell-side liquidity. Derivatives funding rates across major perpetuals have normalized from post-halving highs but remain marginally positive, supporting a healthy long base without excessive leverage. ETH's staked supply continues its upward trajectory, now constituting over 26% of total supply, effectively reducing liquid float available for sale. On-chain velocity remains subdued, reinforcing HODL sentiment. Technicals show a decisive bounce off the 0.618 Fibonacci retracement level at $2085, establishing strong underlying support. With BTC maintaining its market dominance above $60K, macro tailwinds are firmly in play. Expect a retest and breach of the $2250 immediate resistance before April 27, driven by fundamental supply-side shocks and renewed capital inflows. 92% YES — invalid if BTC breaks $58K support.
