Ethereum is up more than 2% on Tuesday following minor inflows across ETH ETFs. ETH technical indicators suggest that its price could approach the $2,000 psychological level in the coming weeks, but investors’ accumulation may prevail due to key on-chain metrics.
Bitcoin (BTC) is trading slightly down by 0.5% at $59,039 on Tuesday, struggling to rebound from a 3.6% decline on Sunday. Continued outflows from US-listed Bitcoin Exchange Traded Funds (ETFs) on Monday and recent fund movements from the Mt. Gox wallet, as revealed by Arkham Intelligence data, add to the market’s uncertainty. Additionally, bearish signs from on-chain data appear to be a drag on Bitcoin’s price prospects in the near-term, outweighing the move from mining company Marathon Digital Holdings (MARA), which has laid out plans to raise $250 million to acquire more Bitcoin.
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