Overview
- Ethereum hovered near $2,300 on Friday and failed to clear $2,320, keeping the month‑long $2,240–$2,400 range intact as traders waited for a clean break.
- CryptoQuant data highlight a stark split across venues, with OKX’s estimated leverage about 5.6 times its much‑reduced ETH reserves versus Binance well under 1x, a setup that can speed liquidations when prices move fast.
- Derivatives signs point to “leverage without buyers” as open interest climbs while net taker demand falls, and large holders have stacked sell orders near $2,320 and $2,400 that have repeatedly stopped rebounds.
- Santiment reported a three‑week high of about $74.6 million in realized profits during the latest dip, signaling profit‑taking by wallets that bought below $2,000 earlier this year rather than panic selling.
- Jane Street added roughly $82 million to ETH ETFs in Q1 even as recent ETF flows swung to outflows and Bitcoin slipped toward $79,000, and a fresh weekly TD Sequential sell signal has some traders leaning cautious around the $2,240–$2,250 support.