Illuvium

Ether reserves held on exchanges fell to a new multi-year low as ETH price struggles to trade above $2,000. Will the supply crunch benefit bulls or bears?

Bitcoin bulls gave up their latest mission to reclaim $70,000 as Iran escalation sparked oil supply fears that gripped stocks and gold.

Ether needed to hold a key support recently established at $1,800, coinciding with the lower trend line of a classic chart pattern that warns of a drop below $1,500.

BTC price has slid about 35% on average over a month after similar trend line crossovers, keeping downside risk in focus for traders.

Compressed volatility, strengthening ETF flows and a diminished Coinbase discount “are not characteristics of a market accelerating into a fresh leg lower,” said 10x Research.

Month-on-month Bitcoin open interest continues to decline, while BTC options markets highlight balanced demand. Does the data point to reduced institutional investor activity?

Bitcoin’s return to the $70,000 level proves that buyers are absorbing the bulk of selling, but analysts warn that traders should be patient due to market bottoms taking months to form.

Bitcoin short-term holder losses were minimal over the weekend, and the Monday rally to $70,000 suggests the heaviest selling is done. Will Bitcoin finally break the monthly resistance?