Crypto: Ethereum Holders In ‘full-scale’ Accumulation As ETH Price Drops...

Ether inflows into accumulation addresses spike despite ETH price falling below $2,000, signalling strong investor confidence in the long term.

Ethereum accumulation addresses have witnessed a surge in daily inflows since Friday, suggesting growing confidence in Ether’s (ETH) long-term price trajectory despite its latest drop below $2,000.

Ether’s drop below $2,000 has left 58% of addresses with unrealized losses.

Accumulation addresses have absorbed about $2.6 billion in ETH over five days.

Key Ether levels to watch below $2,000 include $1,800, $1,500, $1,200, and potentially $1,000-$750 in extreme scenarios.

Ether’s 38% drop over the last month has seen it fall below key support levels, including the average entry price of accumulation addresses, the cost basis of spot Ethereum ETF investors, and the psychological level at $2,000.

The ETH/USD pair now trades 60.5% below its all-time high of $4,950, leaving a significant portion of holders underwater. This includes BitMine, the world’s largest Ethereum treasury ​​linked to investor Tom Lee, which saw its paper losses swell to over $8 billion.

Related: Large demand zone below $2K ETH price gives signal on where Ether may go

With ETH trading at $1,954 on Wednesday, only 41.5% Ethereum addresses are in profit, while over 58% are in the red.

Ether’s current market price is also below the average cost basis of accumulation addresses currently at $2,580, suggesting that long-term holders are increasingly under strain.

Source: CoinTelegraph