Pelin Ay
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XRP Investors Get Ready: A Rise is Imminent!
The most striking event in the chart is that when the gap between the ratio and the price widens, the market structure becomes unhealthy, and this usually closes with an aggressive move.
Focusing on the current outlook, the Leverage ratio is significantly low and trading sideways. Despite this low leverage environment, the price is holding within a relatively high range. This means the market is no longer being driven by leverage. In short, preparations for an upward move are complete!
In the past, such widenings (low ratio – high price divergence) haven't lasted long. This is because either the price falls and approaches the ratio, or the ratio rises rapidly. This usually happens with a sharp upward movement in price. Rises that occur when the ratio is low accelerate and become more aggressive with the addition of leverage.
In this chart, leverage has been removed, speculative load has decreased, and the price hasn't completely collapsed yet. This means that
when new long leverage entry begins, the price reaction will be sharper than usual.
With such a clear difference, the market is currently calm but in a phase of accumulating potential energy. If the ratio starts to turn upward, it will produce not just an upward movement, but a sharp price action with an accelerating squeeze.
In short, these types of periods generally result in sudden and powerful price expansions, not slow increases. $XRP #Xrp🔥🔥 #Ripple
The most striking event in the chart is that when the gap between the ratio and the price widens, the market structure becomes unhealthy, and this usually closes with an aggressive move.
Focusing on the current outlook, the Leverage ratio is significantly low and trading sideways. Despite this low leverage environment, the price is holding within a relatively high range. This means the market is no longer being driven by leverage. In short, preparations for an upward move are complete!
In the past, such widenings (low ratio – high price divergence) haven't lasted long. This is because either the price falls and approaches the ratio, or the ratio rises rapidly. This usually happens with a sharp upward movement in price. Rises that occur when the ratio is low accelerate and become more aggressive with the addition of leverage.
In this chart, leverage has been removed, speculative load has decreased, and the price hasn't completely collapsed yet. This means that
when new long leverage entry begins, the price reaction will be sharper than usual.
With such a clear difference, the market is currently calm but in a phase of accumulating potential energy. If the ratio starts to turn upward, it will produce not just an upward movement, but a sharp price action with an accelerating squeeze.
In short, these types of periods generally result in sudden and powerful price expansions, not slow increases. $XRP #Xrp🔥🔥 #Ripple
Silver is at a significant support level. $75 is now a weakening support level. If this decline remains a retest – which is my expectation – we could see a new rise to the $95 level.
The US interest rate decision to be announced this week may affect the direction of metals. $XAG
The US interest rate decision to be announced this week may affect the direction of metals. $XAG
The gold and silver charts are very similar this week. The only difference in gold is that it may have retested an uptrend. This could lead to another sharp drop.
I don't see any political or economic reason for gold to fall. Therefore, unless there are strong sell-offs, I think we will see $5000 again in the coming period. $XAU
I don't see any political or economic reason for gold to fall. Therefore, unless there are strong sell-offs, I think we will see $5000 again in the coming period. $XAU
Could We Have Missed the Bottom in Bitcoin?
Net Realized Profit and Loss looks very strongly positive around mid-2025. Investors are realizing significant profits. We can also call this period the peak formation process. Afterwards, NRPL gradually weakens and falls into negative territory. Especially during the sharp drop at the beginning of 2026, loss-making sales increase.
In the current chart, NRPL continues with a slightly negative trend. In other words,
There is no large-scale profit-taking, but aggressive stop-loss is also over. Weak hands in the market have largely exited.
Net Unrealized Profit/Loss (NUPL)
Throughout 2025, NUPL is positive at 0.5+, after which it falls to around 0.2.
In the current chart, NUPL is seen to be in the approximately 0.25 – 0.30 range. This region is neither cheap nor expensive. Investors are still in profit, but that old excessive confidence is gone.
NRPL indicates that selling pressure has ended, while NUPL suggests the market is still profitable but cautious. In other words, fewer investors are willing to sell, but buyers aren't actively participating either.
According to the charts, investors are in a "let's wait for it to rise a little more before I get out" mode; therefore, selling pressure is evident on upward movements.
Since NUPL is still low, the "every dip is a buying opportunity" mode hasn't fully begun.
NRPL moving out of negative territory indicates that panic selling has ended and a slow recovery phase has begun.
Based on these two metrics, the market is neither in a bear market nor at the peak of a bull run; it's more in a recovery phase.
Bitcoin investors aren't currently expecting a major drop, but they don't believe in a strong upward movement either. Therefore, they are selling on upward movements and cautiously buying on downward movements. $BTC
Net Realized Profit and Loss looks very strongly positive around mid-2025. Investors are realizing significant profits. We can also call this period the peak formation process. Afterwards, NRPL gradually weakens and falls into negative territory. Especially during the sharp drop at the beginning of 2026, loss-making sales increase.
In the current chart, NRPL continues with a slightly negative trend. In other words,
There is no large-scale profit-taking, but aggressive stop-loss is also over. Weak hands in the market have largely exited.
Net Unrealized Profit/Loss (NUPL)
Throughout 2025, NUPL is positive at 0.5+, after which it falls to around 0.2.
In the current chart, NUPL is seen to be in the approximately 0.25 – 0.30 range. This region is neither cheap nor expensive. Investors are still in profit, but that old excessive confidence is gone.
NRPL indicates that selling pressure has ended, while NUPL suggests the market is still profitable but cautious. In other words, fewer investors are willing to sell, but buyers aren't actively participating either.
According to the charts, investors are in a "let's wait for it to rise a little more before I get out" mode; therefore, selling pressure is evident on upward movements.
Since NUPL is still low, the "every dip is a buying opportunity" mode hasn't fully begun.
NRPL moving out of negative territory indicates that panic selling has ended and a slow recovery phase has begun.
Based on these two metrics, the market is neither in a bear market nor at the peak of a bull run; it's more in a recovery phase.
Bitcoin investors aren't currently expecting a major drop, but they don't believe in a strong upward movement either. Therefore, they are selling on upward movements and cautiously buying on downward movements. $BTC
Ethereum's Rise Is Just an Illusion
The recent rise of the leverage ratio above the price for the first time in a long time is quite striking. If the price doesn't keep pace with the rising leverage ratio, it indicates that leveraged positions are increasing faster than spot demand in the market. In other words, what's driving the price isn't actual buying, but rather derivatives market positions. Especially when the price is still in a weak recovery phase, the continuous increase in leverage indicates aggressive positioning (long or short, it doesn't matter) in the market. Therefore, the recent rise is not due to spot buying, but to leveraged transactions. When the ratio rises above the price, the market becomes "overleveraged."
I specifically looked at this chart through Binance because a large portion of the derivatives volume circulates there, meaning we see leverage behavior most clearly there.
In this environment, an unhealthy rise, liquidation risk, and increased volatility are expected.
Such divergences usually don't end peacefully. A sharp dump follows the upward movement. (Position Clearing)
The market is about to clarify its direction, but given the current density of positions, this move is likely to be sharp and one-sided when it occurs. $ETH
The recent rise of the leverage ratio above the price for the first time in a long time is quite striking. If the price doesn't keep pace with the rising leverage ratio, it indicates that leveraged positions are increasing faster than spot demand in the market. In other words, what's driving the price isn't actual buying, but rather derivatives market positions. Especially when the price is still in a weak recovery phase, the continuous increase in leverage indicates aggressive positioning (long or short, it doesn't matter) in the market. Therefore, the recent rise is not due to spot buying, but to leveraged transactions. When the ratio rises above the price, the market becomes "overleveraged."
I specifically looked at this chart through Binance because a large portion of the derivatives volume circulates there, meaning we see leverage behavior most clearly there.
In this environment, an unhealthy rise, liquidation risk, and increased volatility are expected.
Such divergences usually don't end peacefully. A sharp dump follows the upward movement. (Position Clearing)
The market is about to clarify its direction, but given the current density of positions, this move is likely to be sharp and one-sided when it occurs. $ETH
Bitcoin Investors Want a New Bottom
The Exchange Stablecoins Ratio (ASR) essentially shows the ratio of the amount of stablecoins on exchanges to the Bitcoin reserve. Simply put, a high ratio means there are many stablecoins readily available on Binance, while a low ratio means there are fewer stablecoins and a higher BTC weighting.
Currently, this ratio has fallen to historical lows (~0.5) on the chart. This is a very important signal. Because Binance is an exchange with large investors, this directly reflects the impact of the stablecoin ratio on the markets.
This means that liquidity is weak in the market, and the stablecoin side, i.e., the money ready to buy, is very small. When this ratio drops this low, it means that the money waiting on Binance has decreased, meaning the power to make new purchases is weak. The market is full of crypto internally, but there is no buyer support from outside. The market is fully deployed, and in the past, these situations have generally resulted in a price drop. First, the BTC price hits the bottom, then buyers come in.
In the current situation, internal investors have already taken positions. Stablecoins have largely been converted to crypto. There is very little money waiting in the market. This increases the risk of exit liquidity.
When stablecoins are scarce, there won't be enough buyers to absorb the sell-off. This can make declines sharper and faster.
Looking at the chart, the ratio was high in mid-2024, indicating potential for price increase. Towards 2025, the ratio began to decline, making the price fragile even if it rose. Currently, the price is still high, but the ratio is at its lowest point. This divergence indicates a lack of liquidity to support the price. Therefore, the rise is largely driven by internal capital circulation. There is no interest from new investors. This situation is unsustainable. Resistance breakouts will be fake. Unless this ratio increases, it's not unrealistic to expect a new low. A rally won't happen until new investors say, "Okay, the market has now reached a buying level." $BTC
The Exchange Stablecoins Ratio (ASR) essentially shows the ratio of the amount of stablecoins on exchanges to the Bitcoin reserve. Simply put, a high ratio means there are many stablecoins readily available on Binance, while a low ratio means there are fewer stablecoins and a higher BTC weighting.
Currently, this ratio has fallen to historical lows (~0.5) on the chart. This is a very important signal. Because Binance is an exchange with large investors, this directly reflects the impact of the stablecoin ratio on the markets.
This means that liquidity is weak in the market, and the stablecoin side, i.e., the money ready to buy, is very small. When this ratio drops this low, it means that the money waiting on Binance has decreased, meaning the power to make new purchases is weak. The market is full of crypto internally, but there is no buyer support from outside. The market is fully deployed, and in the past, these situations have generally resulted in a price drop. First, the BTC price hits the bottom, then buyers come in.
In the current situation, internal investors have already taken positions. Stablecoins have largely been converted to crypto. There is very little money waiting in the market. This increases the risk of exit liquidity.
When stablecoins are scarce, there won't be enough buyers to absorb the sell-off. This can make declines sharper and faster.
Looking at the chart, the ratio was high in mid-2024, indicating potential for price increase. Towards 2025, the ratio began to decline, making the price fragile even if it rose. Currently, the price is still high, but the ratio is at its lowest point. This divergence indicates a lack of liquidity to support the price. Therefore, the rise is largely driven by internal capital circulation. There is no interest from new investors. This situation is unsustainable. Resistance breakouts will be fake. Unless this ratio increases, it's not unrealistic to expect a new low. A rally won't happen until new investors say, "Okay, the market has now reached a buying level." $BTC
Is the Bitcoin rally over or continuing?
BTC has been stuck in a resistance zone for a long time, moving within a wedge. Even if the formation creates a bull trap, it will likely lead to a decline. The price is expected to fall to at least the $72K level.
#BTC price will not move above $81500 unless the direction is ⬇️
$BTC
BTC has been stuck in a resistance zone for a long time, moving within a wedge. Even if the formation creates a bull trap, it will likely lead to a decline. The price is expected to fall to at least the $72K level.
#BTC price will not move above $81500 unless the direction is ⬇️
$BTC
After a long downtrend, dominance formed a base in the bottom region and then initiated an upward trend by making rising lows. This indicates that capital is slowly starting to shift back to ETH.
However, there's an important detail in the final section. Price (dominance) is being rejected around 11.5%, initiating a short-term downward correction. This pullback is currently moving directly towards the rising trend line (approximately the 10.7–10.8 band).
▪️ As ETH dominance increases, liquidity in the market shifts to ETH. ▪️ As ETH dominance decreases, liquidity spreads to altcoins.
The current pullback doesn't seem like a trend break; it appears more like a correction following an upward move. Therefore, the key factor is whether this trend line will be maintained.
The impact of this situation on #Ethereum and the overall altcoin market will be directly related to liquidity distribution. While dominance is retreating, altcoins may perform relatively better in the short term. However, if dominance remains in an upward trend as it is now, this strengthening will be temporary rather than permanent. As long as the overall trend in ETH dominance remains upward, market leadership will continue to belong to ETH.
Dominance is still structurally in the process of recovering from its bottom. During this process, it is thought that some divergent coins within the altcoin market will accompany ETH.
In summary, the chart says:
The market is not yet in a completely altcoin-focused phase. Although liquidity flows to altcoins from time to time, the overall structure points to a period where ETH is increasing its weight within the system again. This shows that altcoin performance continues to largely depend on the strength of ETH. $ETH #Ethereum
However, there's an important detail in the final section. Price (dominance) is being rejected around 11.5%, initiating a short-term downward correction. This pullback is currently moving directly towards the rising trend line (approximately the 10.7–10.8 band).
▪️ As ETH dominance increases, liquidity in the market shifts to ETH. ▪️ As ETH dominance decreases, liquidity spreads to altcoins.
The current pullback doesn't seem like a trend break; it appears more like a correction following an upward move. Therefore, the key factor is whether this trend line will be maintained.
The impact of this situation on #Ethereum and the overall altcoin market will be directly related to liquidity distribution. While dominance is retreating, altcoins may perform relatively better in the short term. However, if dominance remains in an upward trend as it is now, this strengthening will be temporary rather than permanent. As long as the overall trend in ETH dominance remains upward, market leadership will continue to belong to ETH.
Dominance is still structurally in the process of recovering from its bottom. During this process, it is thought that some divergent coins within the altcoin market will accompany ETH.
In summary, the chart says:
The market is not yet in a completely altcoin-focused phase. Although liquidity flows to altcoins from time to time, the overall structure points to a period where ETH is increasing its weight within the system again. This shows that altcoin performance continues to largely depend on the strength of ETH. $ETH #Ethereum
Should I buy gold from here?
It should be bought gradually. $4600 was an important support level. Those who missed this support level can divide the amount they will buy from this level into 3 or 4 parts.
I expect the price of gold to first go to $5000 (the area I marked with the yellow box). If there is a drop, it may come from this area. We will re-evaluate when the price reaches $5000. $XAU #GOLD
It should be bought gradually. $4600 was an important support level. Those who missed this support level can divide the amount they will buy from this level into 3 or 4 parts.
I expect the price of gold to first go to $5000 (the area I marked with the yellow box). If there is a drop, it may come from this area. We will re-evaluate when the price reaches $5000. $XAU #GOLD
XRP PRICE WAITING FOR BUYERS TO TAKE ACTION
The chart shows high individual user activity, but such inflows alone cannot drive the price. They generate more volume. Investors transferring 10K – 100K XRP have a neutral effect on the price.
100K+ and 1M+ XRP transfers
increase significantly at certain times. The fact that this is not constant indicates the instability of whales. In other words, there is no stable directional pressure in the market.
There is no clear correlation between price and inflows. When large inflows increase, the price doesn't always fall. When inflows weaken, the price doesn't always rise. This suggests that not all incoming coins are sold, or that there is liquidity in the market to absorb them.
This chart currently shows that there is no selling pressure, liquidity is balanced, and the price is not dominated by inflows. Therefore, the main factor determining the price here is not inflow, but probably the derivatives market and the overall market direction. According to this chart, if spot price breakouts strengthen, the price could rise sharply. $XRP #Ripple
The chart shows high individual user activity, but such inflows alone cannot drive the price. They generate more volume. Investors transferring 10K – 100K XRP have a neutral effect on the price.
100K+ and 1M+ XRP transfers
increase significantly at certain times. The fact that this is not constant indicates the instability of whales. In other words, there is no stable directional pressure in the market.
There is no clear correlation between price and inflows. When large inflows increase, the price doesn't always fall. When inflows weaken, the price doesn't always rise. This suggests that not all incoming coins are sold, or that there is liquidity in the market to absorb them.
This chart currently shows that there is no selling pressure, liquidity is balanced, and the price is not dominated by inflows. Therefore, the main factor determining the price here is not inflow, but probably the derivatives market and the overall market direction. According to this chart, if spot price breakouts strengthen, the price could rise sharply. $XRP #Ripple
Ethereum and Altcoins are Undergoing a Short-Term Uptrend
Negative funding has been dominant for a long time. This means that the short side is crowded, and a general expectation of a decline prevails in the market. However, the noteworthy point is that despite the prolonged negative funding, the price is not completely collapsing; on the contrary, there is a horizontal and gradual recovery.
The Funding EMAs have remained in the negative zone for a long time. In the last section, there is a tendency to approach zero. This indicates that the intensity of shorts has decreased, but there is no clear long dominance yet. In other words, although the price hasn't collapsed, there is no bullish signal. The market wants to fall but can't. Sellers are waiting to catch a peak.
Currently, Funding is slightly negative, around -0.0009. Long pressure has not yet formed, and shorting has not completely ended. However, there is a more balanced and neutral market structure compared to the past. The Binance chart is important here because large-volume futures trading takes place there.
ETH is currently in a structural transformation phase. So either sellers will capitalize on this false rise and start selling at a peak, or sellers will finally hand over the market to buyers, initiating an uptrend. In my opinion, the first possibility is more likely. Because there are still no buyers on the spot market. This reduces the likelihood of a sudden crash for altcoins, but the energy needed for a strong altseason is still lacking. During this period, selected altcoins may find buyers and gain upward momentum.
The market is trying to exit a risk-off phase. Therefore, shorter-term rallies are expected instead of an uptrend. $ETH #Ethereum
Negative funding has been dominant for a long time. This means that the short side is crowded, and a general expectation of a decline prevails in the market. However, the noteworthy point is that despite the prolonged negative funding, the price is not completely collapsing; on the contrary, there is a horizontal and gradual recovery.
The Funding EMAs have remained in the negative zone for a long time. In the last section, there is a tendency to approach zero. This indicates that the intensity of shorts has decreased, but there is no clear long dominance yet. In other words, although the price hasn't collapsed, there is no bullish signal. The market wants to fall but can't. Sellers are waiting to catch a peak.
Currently, Funding is slightly negative, around -0.0009. Long pressure has not yet formed, and shorting has not completely ended. However, there is a more balanced and neutral market structure compared to the past. The Binance chart is important here because large-volume futures trading takes place there.
ETH is currently in a structural transformation phase. So either sellers will capitalize on this false rise and start selling at a peak, or sellers will finally hand over the market to buyers, initiating an uptrend. In my opinion, the first possibility is more likely. Because there are still no buyers on the spot market. This reduces the likelihood of a sudden crash for altcoins, but the energy needed for a strong altseason is still lacking. During this period, selected altcoins may find buyers and gain upward momentum.
The market is trying to exit a risk-off phase. Therefore, shorter-term rallies are expected instead of an uptrend. $ETH #Ethereum
Whales Maintaining Short Positions. A New Bottom May Be Coming in the Short Term.
The unsustainability of recent buying pressure may be the most important point in the chart. Especially from the beginning of 2026, buyer dominance is very strong, but the price isn't rising to the same extent; in fact, we can say it's recovering weakly after a drop. This divergence shows that sellers, who are selling gradually with limit orders at resistance levels, are suppressing the buyers who suddenly appear. In other words, while one group is buying from the market, another is constantly supplying shares from above, saying "okay, take this." While small investors buy with FOMO during every rise, whales use upward movements as liquidity opportunities and sell their Bitcoins to small investors. What many people miss here is that even if buying appears strong on the general all-exchange chart, data from Binance, in particular, often determines the direction. This is because whales and institutional investors predominantly open trades there. Whale movements are most accurately tracked on Binance. We've seen this many times in the past. If the ratio on Binance is inconsistent with other exchanges, the real direction mostly follows Binance.
Currently, the ratio on the chart is around 0.97, which is below the critical threshold. Sellers have started to become aggressive again. Buyers cannot push the price higher. The price seemed to rise but couldn't sustain it. In this situation, short positions are increasing in the futures market, putting pressure on the price. Unless whales start buying strongly, the price will continue to move sideways, waiting for sellers. We may see a new low in the short term. $BTC #bitcoin
The unsustainability of recent buying pressure may be the most important point in the chart. Especially from the beginning of 2026, buyer dominance is very strong, but the price isn't rising to the same extent; in fact, we can say it's recovering weakly after a drop. This divergence shows that sellers, who are selling gradually with limit orders at resistance levels, are suppressing the buyers who suddenly appear. In other words, while one group is buying from the market, another is constantly supplying shares from above, saying "okay, take this." While small investors buy with FOMO during every rise, whales use upward movements as liquidity opportunities and sell their Bitcoins to small investors. What many people miss here is that even if buying appears strong on the general all-exchange chart, data from Binance, in particular, often determines the direction. This is because whales and institutional investors predominantly open trades there. Whale movements are most accurately tracked on Binance. We've seen this many times in the past. If the ratio on Binance is inconsistent with other exchanges, the real direction mostly follows Binance.
Currently, the ratio on the chart is around 0.97, which is below the critical threshold. Sellers have started to become aggressive again. Buyers cannot push the price higher. The price seemed to rise but couldn't sustain it. In this situation, short positions are increasing in the futures market, putting pressure on the price. Unless whales start buying strongly, the price will continue to move sideways, waiting for sellers. We may see a new low in the short term. $BTC #bitcoin
My favorite coin, #Aster, has seen its volume drop incredibly. A 50% drop from its current level wouldn't surprise me. It needs to gather liquidity for a strong price increase. Can whales lend a hand with $ASTER
Whales Preparing for Altcoin Season
The chart shows very strong inflows in mid-March, followed immediately by sharp outflows. Currently, netflow appears slightly positive and more balanced compared to March. This indicates increased liquidity for buyers, as stablecoins are used directly to buy BTC, ETH, and altcoins. Therefore, this inflow represents potential buying power.
If investors are moving money to exchanges instead of banks or cold wallets, they are preparing to buy. This is usually seen in anticipation of buying at the bottom or positioning before expected news. First, whales and institutions send stablecoins to exchanges, then they usually open short positions, and a collapse begins. Then they realize profits and move to spot buying at the bottom. Following whales is always profitable. However, this prediction is only an expectation based on past whale movements. Therefore, we must track inflow and outflow. If, as is currently the case, inflow increases while the price is falling, it can be said that money is coming in for buying at the bottom, and smart money is accumulating. Binance is a hub for institutional and whale trading. Therefore, it's worthwhile to monitor the increase in stablecoin inflows to Binance.
In recent days, the small but consistently positive netflow and the horizontal movement of the EMAs indicate liquidity accumulation. This strengthens the possibility of increased volatility and a bullish fake breakout in the short term.
Stablecoin inflow first enters BTC, then ETH, and finally altcoins. So this could be an early signal of an altcoin season. However, it won't start immediately; it's a process and the earliest stage. It could take months for this season to begin. It would be wise to wait for the altcoin season after a major bottom has been reached. $BTC $ETH #Altcoin
The chart shows very strong inflows in mid-March, followed immediately by sharp outflows. Currently, netflow appears slightly positive and more balanced compared to March. This indicates increased liquidity for buyers, as stablecoins are used directly to buy BTC, ETH, and altcoins. Therefore, this inflow represents potential buying power.
If investors are moving money to exchanges instead of banks or cold wallets, they are preparing to buy. This is usually seen in anticipation of buying at the bottom or positioning before expected news. First, whales and institutions send stablecoins to exchanges, then they usually open short positions, and a collapse begins. Then they realize profits and move to spot buying at the bottom. Following whales is always profitable. However, this prediction is only an expectation based on past whale movements. Therefore, we must track inflow and outflow. If, as is currently the case, inflow increases while the price is falling, it can be said that money is coming in for buying at the bottom, and smart money is accumulating. Binance is a hub for institutional and whale trading. Therefore, it's worthwhile to monitor the increase in stablecoin inflows to Binance.
In recent days, the small but consistently positive netflow and the horizontal movement of the EMAs indicate liquidity accumulation. This strengthens the possibility of increased volatility and a bullish fake breakout in the short term.
Stablecoin inflow first enters BTC, then ETH, and finally altcoins. So this could be an early signal of an altcoin season. However, it won't start immediately; it's a process and the earliest stage. It could take months for this season to begin. It would be wise to wait for the altcoin season after a major bottom has been reached. $BTC $ETH #Altcoin
Investors Expect an Ethereum Crash
The ratio frequently drops below 1 throughout the chart. Sellers are acting more aggressively than buyers in the market order side. However, despite this situation continuing for a long time, the Ethereum price hasn't fully entered a collapse trend. In other words, passive buyers (limit bids) are interestingly holding the market up.
While the price is expected to rise from approximately $2K to $4K in mid-2025, the ratio isn't keeping pace with the steady rise. The rise seems strong, but driven more by liquidity gaps and passive demand than by market buy dominance. Therefore, the rise hasn't been sustainable.
The recent price-ratio divergence proves that purchases are being met with sales. This is especially seen in environments where whales are exiting.
According to the chart, the price doesn't have a structure that will rise without a drop, i.e., without accumulating liquidity. It's very weak, very low volume, and every small rise has a seller. Therefore, it's difficult to think that the ETH price will rise without finding a new low. $ETH #Ethereum
The ratio frequently drops below 1 throughout the chart. Sellers are acting more aggressively than buyers in the market order side. However, despite this situation continuing for a long time, the Ethereum price hasn't fully entered a collapse trend. In other words, passive buyers (limit bids) are interestingly holding the market up.
While the price is expected to rise from approximately $2K to $4K in mid-2025, the ratio isn't keeping pace with the steady rise. The rise seems strong, but driven more by liquidity gaps and passive demand than by market buy dominance. Therefore, the rise hasn't been sustainable.
The recent price-ratio divergence proves that purchases are being met with sales. This is especially seen in environments where whales are exiting.
According to the chart, the price doesn't have a structure that will rise without a drop, i.e., without accumulating liquidity. It's very weak, very low volume, and every small rise has a seller. Therefore, it's difficult to think that the ETH price will rise without finding a new low. $ETH #Ethereum
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