Traditional Low Point? Ethereum Reaches $2.8K Realized Value as Large-Scale Investors Gather More

Ethereum's recent drop to a crucial low of $2,870 on Wednesday has been identified by analysts as a potential "classic bottom" zone, a point that historically signals market lows and imminent rebounds. This price point is seen as a 'realized price' cluster for both retail and large-scale investors, hinting at the formation of a rebound base. There is a clear distinction between small-scale investors selling off and whale investors (those holding over 10,000 ETH) accumulating more as prices drop. Coupled with fading forced-selling pressure, it suggests a late-stage bottom formation. Ethereum's performance has been challenging, with its value at around $3,020, down nearly 15% over the past week and 22% in the last month. The market is thought to be building internal pressure, with a violent break in either direction increasingly likely.