Both Bitcoin and Ether have seen downside price action following the former’s latest block subsidy halving in April.“For Ethereum, we can see a similar drawdown structure, with notably shallower corrections since the FTX lows. This hits to a degree of resilience during pullbacks, as well as a net reduction in volatility across the digital asset space,” Glassnode wrote.
Ethereum’s short-term holders — entities holding coins for 155 days or less — have their aggregate cost basis right at $3,000. “Ethereum's STH-MVRV is trading at a very slight premium at the moment, which could suggest that spot prices are very close to the cost basis of recent buyers, who may panic should the market experience downside volatility,” it warned.Bitcoin could soon ‘BLOW higher’ on bullish candle hammer — Glassnode execs
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