Ethereum’s Supply in Loss Nears Post-FTX Levels
- Glassnode data shows Ethereum supply held at an unrealized loss is nearing levels from the post-FTX period.
- The post-FTX period, specifically November, marked a significant sentiment reset in the crypto market.
- A high underwater supply can indicate seller exhaustion but does not guarantee a price rebound for ETH.
Traders are closely monitoring Ethereum’s current supply-in-loss metric as it approaches levels seen during the post-FTX capitulation period, a time of significant market stress and adjustment. This metric highlights potential seller exhaustion but requires price confirmation to establish a durable market bottom.
The comparison with the post-FTX period underscores the importance of this metric as an indicator of market sentiment and potential accumulation zones if Ethereum stabilizes and reclaims key price levels. (Source)
