Ethereum Bottom Might be In: Analysts See the Final Shakeout
Ethereum realized profits jumped to $74.58 million, the highest level in three weeks.Binance ETH depositing addresses surged to nearly 9,000, reaching a yearly high.Analysts say traders who accumulated ETH below $2,000 are now taking profits. Ethereum is facing increasing sell pressure near the $2,200 to $2,260 range, but several analysts believe the current move may be closer to a “final shakeout” than the start of a larger breakdown. Santiment data showed Ethereum network realized profits surged to $74.58 million, the highest level in three weeks, even as ETH dropped roughly 5.5% over the last three days. At the same time, CryptoQuant reported a major spike in Binance deposit addresses, with the metric jumping sharply to nearly 9,000 ETH. The move marked the highest exchange deposit activity in more than a year. Together, the data points to heavy distribution activity near current price levels. Traders Who Bought Below $2,000 Are Selling Santiment analysts said the realized profit spike is largely coming from wallets that accumulated Ethereum during February and March, when ETH traded below $2,000. Those buyers entered during a period dominated by war concerns, macro uncertainty, and weak crypto sentiment. Even after the recent pullback, many of those positions remain profitable. The chart shared by Santiment showed notable