2 hours ago
4
Key Takeaways
- Ethereum gained 9% in 24 hours, reclaiming $1,815 on a single daily candle.
- The US-Iran ceasefire framework lifted risk assets across the board.
- BitMine bought another $136M in ETH, lifting its stake to 4.66% of supply.
- The 50-day average near $2,057 is the first resistance the rally must clear.
- ETH saw $174M liquidated in 24 hours, with $155M, roughly 89%, being shorts.
- In the sharpest 4-hour window, shorts made up 95% of the $92M liquidated.
- OI-weighted funding sits at just 0.0020%, barely positive after a negative stretch.
What Drove the Move
The catalyst was macro, not Ethereum-specific. The United States and Iran announced a framework deal to end their war and reopen the Strait of Hormuz, with a signing set for Friday in Switzerland. The prospect of reopened shipping lanes pushed oil prices lower, easing the inflation pressure that had weighed on risk...
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