Sharplink stopped last year, and only in 2026 did they first buy back $ETH —around $16 million. They just happened to buy at a spot that’s 68% below the all-time high. This kind of news most easily prompts people to imagine “institutions are scooping up the dip.”
But the market isn’t that hot. $ETH is now at 1570.61, down -1% in 24 hours. The high/low is 1637 to 1550. The funding rate is only +0.0037%, yet derivatives contract volume is 16.6 times spot. It looks like traders are swapping hands among themselves, not like someone is in a hurry to push the price up.
I didn’t chase it. I didn’t open a position around 1570. I placed a limit buy near 1552 for a long; if it breaks below 1540, I’ll exit immediately. News can tell a story, but order flow only recognizes actual trades. $ETH #ETH
But the market isn’t that hot. $ETH is now at 1570.61, down -1% in 24 hours. The high/low is 1637 to 1550. The funding rate is only +0.0037%, yet derivatives contract volume is 16.6 times spot. It looks like traders are swapping hands among themselves, not like someone is in a hurry to push the price up.
I didn’t chase it. I didn’t open a position around 1570. I placed a limit buy near 1552 for a long; if it breaks below 1540, I’ll exit immediately. News can tell a story, but order flow only recognizes actual trades. $ETH #ETH