{"id":597623,"date":"2024-03-13T12:43:25","date_gmt":"2024-03-13T12:43:25","guid":{"rendered":"https:\/\/ktsl888.com\/?p=597623"},"modified":"2024-03-13T12:56:16","modified_gmt":"2024-03-13T12:56:16","slug":"number-of-ethereum-short-term-holders-increasing-is-a-bull-rally-next","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/number-of-ethereum-short-term-holders-increasing-is-a-bull-rally-next\/","title":{"rendered":"Number Of Ethereum Short-Term Holders Increasing \u2013 Is A Bull Rally Next?"},"content":{"rendered":"

Ethereum (ETH) has been showing a solid performance lately, leaving investors both ecstatic and wary. The world’s second-largest cryptocurrency<\/a>, boasting a market capitalization of nearly $480 billion, recently surpassed the coveted $4,000 mark for the first time since December 2021, igniting a flurry of bullish predictions. But is this a genuine resurgence, or are we witnessing a temporary blip before a potential correction?<\/p>\n

Related Reading: Cardano (ADA) Price Alert: Analyst Predicts 60% Rally In Next 7 Days<\/a><\/div>\n

Let’s dissect the forces at play. Proponents of a sustained uptrend point to a confluence of positive factors. The long-awaited approval of a US-based Ethereum ETF<\/a> is a hot topic, with speculation swirling that a green light could trigger a significant influx of institutional capital, potentially injecting billions into the Ethereum ecosystem.<\/p>\n

Additionally, the upcoming Bitcoin halving, an event that cuts Bitcoin’s mining reward in half, is expected to have a positive spillover effect on the entire cryptocurrency market, potentially propelling Ethereum further.<\/p>\n

Surge In Short-Term Ethereum Holders Signals Optimism<\/strong><\/h2>\n

This optimistic outlook is bolstered by a surge in on-chain activity. Data from IntoTheBlock reveals a significant increase in the number of short-term Ethereum holders.<\/p>\n

\"\"<\/p>\n

Source: TradingView\/IntoTheBlock<\/pre>\n
Historically, this trend, with its 60% monthly price surge for ETH, aligns with bull markets, signifying an influx of new users entering the crypto space and actively participating in the network. Think of it as a crowded party – the more people show up (currently approaching the highs of the last bull cycle), the livelier the atmosphere becomes (and potentially the higher the price goes).<\/p>\n
But, there’s more to the story. A closer inspection of technical indicators paints a slightly different picture. The Relative Strength Index (RSI) and Chaikin Money Flow (CMF) are currently hovering in overbought territory, with RSI specifically nearing the 70 mark.<\/p>\n
<\/p>\n
Total crypto market cap is currently at $2.677 trillion. Chart: TradingView<\/a><\/pre>\n
In simpler terms, this suggests that Ethereum’s price at slightly above $4,000 <\/a>might be stretched a bit thin and due for a potential pullback. Imagine a jump rope competition – if you’re swinging too hard and fast (like an RSI over 70), eventually you’ll trip yourself up.<\/p>\n
\"\"Source: Coingecko<\/a><\/pre>\n
Ethereum’s Future: Balancing Act<\/strong><\/h2>\n
Adding a layer of intrigue, the sentiment among investors seems geographically divided. While the “Coinbase Premium,” a metric reflecting buying pressure, is thriving in the US, its Korean counterpart indicates ongoing selling activity.<\/p>\n
Related Reading: Bitcoin Hodlers Eye Long Term: $520 Million BTC Go To Cold Storage<\/a><\/div>\n
This regional disparity could be attributed to diverse market dynamics and investor preferences. Perhaps American investors, with a green Coinbase Premium, are more optimistic about the regulatory landscape surrounding crypto, while their Korean counterparts, with a red Korea Premium, are taking a more cautious approach.<\/p>\n
So, what does this all mean for Ethereum’s future? The answer, unfortunately, isn’t as clear-cut as we’d like. The confluence of positive factors like potential ETF approval, increased network activity with a surge in short-term holders, and a potential Bitcoin halving boost paint a bullish picture.<\/p>\n
However, technical indicators hinting at an overbought market and contrasting investor sentiment across regions introduce a note of caution. Ethereum is currently walking a tightrope – will it maintain its momentum or face a reality check in the form of a price correction? It’s anybody’s guess.<\/p>\n
Featured image from Pixabay, chart from TradingView<\/em><\/p>\n
\n","protected":false},"excerpt":{"rendered":"
Ethereum (ETH) has been showing a solid performance lately, leaving investors both ecstatic and wary. The world’s second-largest cryptocurrency, boasting a market capitalization of nearly $480 billion, recently surpassed the coveted $4,000 mark for the first time since December 2021, igniting a flurry of bullish predictions. But is this a genuine resurgence, or are we witnessing a temporary blip before a potential correction? Related Reading: Cardano (ADA) Price Alert: Analyst Predicts 60% Rally In Next 7 Days Let’s dissect the forces at play. Proponents of a sustained uptrend point to a confluence of positive factors. The long-awaited approval of a US-based Ethereum ETF is a hot topic, with speculation swirling that a green light could trigger a significant influx of institutional capital, potentially injecting billions into the Ethereum ecosystem. Additionally, the upcoming Bitcoin halving, an event that cuts Bitcoin’s mining reward in half, is expected to have a positive spillover effect on the entire cryptocurrency market, potentially propelling Ethereum further. Surge In Short-Term Ethereum Holders Signals Optimism This optimistic outlook is bolstered by a surge in on-chain activity. Data from IntoTheBlock reveals a significant increase in the number of short-term Ethereum holders. Source: TradingView\/IntoTheBlock Historically, this trend, with its 60% monthly price surge for ETH, aligns with bull markets, signifying an influx of new users entering the crypto space and actively participating in the network. Think of it as a crowded party – the more people show up (currently approaching the highs of the last bull cycle), the livelier the atmosphere becomes (and potentially the higher the price goes). But, there’s more to the story. A closer inspection of technical indicators paints a slightly different picture. The Relative Strength Index (RSI) and Chaikin Money Flow (CMF) are currently hovering in overbought territory, with RSI specifically nearing the 70 mark. Total crypto market cap is currently at $2.677 trillion. Chart: TradingView In simpler terms, this suggests that Ethereum’s price at slightly above $4,000 might be stretched a bit thin and due for a potential pullback. Imagine a jump rope competition – if you’re swinging too hard and fast (like an RSI over 70), eventually you’ll trip yourself up. Source: Coingecko Ethereum’s Future: Balancing Act Adding a layer of intrigue, the sentiment among investors seems geographically divided. While the “Coinbase Premium,” a metric reflecting buying pressure, is thriving in the US, its Korean counterpart indicates ongoing selling activity. Related Reading: Bitcoin Hodlers Eye Long Term: $520 Million BTC Go To Cold Storage This regional disparity could be attributed to diverse market dynamics and investor preferences. Perhaps American investors, with a green Coinbase Premium, are more optimistic about the regulatory landscape surrounding crypto, while their Korean counterparts, with a red Korea Premium, are taking a more cautious approach. So, what does this all mean for Ethereum’s future? The answer, unfortunately, isn’t as clear-cut as we’d like. The confluence of positive factors like potential ETF approval, increased network activity with a surge in short-term holders, and a potential Bitcoin halving boost paint a bullish picture. However, technical indicators hinting at an overbought market and contrasting investor sentiment across regions introduce a note of caution. Ethereum is currently walking a tightrope – will it maintain its momentum or face a reality check in the form of a price correction? It’s anybody’s guess. Featured image from Pixabay, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":597650,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1020,1946,2888,4735],"class_list":["post-597623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-blockchain","tag-ethereum","tag-market-analysis","tag-price-action"],"acf":[],"yoast_head":"\nNumber Of Ethereum Short-Term Holders Increasing \u2013 Is A Bull Rally Next?<\/title>\n<meta name=\"description\" content=\"Ethereum (ETH) has been showing a solid performance lately, leaving investors both ecstatic and wary. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Number Of Ethereum Short-Term Holders Increasing \u2013 Is A Bull Rally Next?","url":"http:\/\/ktsl888.com\/news\/ethereum\/number-of-ethereum-short-term-holders-increasing-is-a-bull-rally-next\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum\/number-of-ethereum-short-term-holders-increasing-is-a-bull-rally-next\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_8cd3ef.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_8cd3ef.jpg?fit=1280%2C853"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["blockchain","ethereum","market analysis","price action"],"dateCreated":"2024-03-13T12:43:25Z","datePublished":"2024-03-13T12:43:25Z","dateModified":"2024-03-13T12:56:16Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Number Of Ethereum Short-Term Holders Increasing \\u2013 Is A Bull Rally Next?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/number-of-ethereum-short-term-holders-increasing-is-a-bull-rally-next\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/number-of-ethereum-short-term-holders-increasing-is-a-bull-rally-next\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/a_8cd3ef.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/a_8cd3ef.jpg?fit=1280%2C853\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"blockchain\",\"ethereum\",\"market analysis\",\"price action\"],\"dateCreated\":\"2024-03-13T12:43:25Z\",\"datePublished\":\"2024-03-13T12:43:25Z\",\"dateModified\":\"2024-03-13T12:56:16Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_8cd3ef.jpg?fit=1280%2C853","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/597623"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=597623"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/597623\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/597650"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=597623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=597623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=597623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}