Markets
What to know:
- ETH plummeted like a house of cards in a hurricane-from $3,565 to $3,060. Poof. All gains? Gone. Like your ex’s Instagram stories.
- $1.4B vanished from U.S. spot ether ETFs since October. Long-term holders sold at a pace last seen in 2021. Glassnode: “Yep, this is chaos.”
- Fed’s “hawkish stance” killed rate cut hopes. Because nothing says “confidence” like a central bank’s tweet.
Ethereum’s ETH had a midlife crisis Thursday-Friday, dropping 10% and making Bitcoin’s $100k dip look like a polite cough. Now it’s clinging to $3,200 like a clingy ex.
The second-largest crypto asset (which is still tiny compared to “real money”) erased its entire rebound. Stabilized? Barely. Still down 8%. Welcome to crypto’s emotional support group.
Meanwhile, the U.S. government shutdown (just ended, thanks for asking) left markets with the liquidity of a dried-up lake. And the Fed? Still pretending December rate cuts are happening. Spoiler: They’re not.
Since Powell’s “Not today, Satan” speech in October, ETFs bled $1.4B. Thursday’s $260M outflow? A bloodbath. Like crypto’s prom night with a vengeful DJ.
Long-term holders? Selling faster than you can say “shill.” Glassnode: “45k ETH daily. At $140M. Since 2021. You’re welcome, 2024.”
Blockchain fundamentals? Dying. Active addresses fell to 8.2M. Transaction fees? A sad $27M. The network’s throwing a party no one showed up to. 🎉
Key technical levels to watch
ETH broke through $3,325 like it was a fragile soufflé. CoinDesk: “Bearish trend confirmed. Cry harder.”
- Support/Resistance: $3,080 (please work), $3,050 (good luck), $2,880 (hope you have a Plan B). Resistance? $3,330 (ex-support), $3,500 (pivot point), $3,650 (the “I’m fine” lie).
- Volume Analysis: Selling peaked at 641k. 71% above norms. Then? A slump. Like crypto’s version of a hangover.
- Chart Patterns: ETH broke its April channel. Lower highs. Lower hope. Consolidation? Try not to hyperventilate.
- Targets & Risk/Reward: Break $3,050? $2,880 awaits. Climb back to $3,563? Miracles happen! But above $3,500? “Descend into madness.”
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2025-11-14 18:24