Latest news with #Pentoshi
Yahoo
20-07-2025
- Business
- Yahoo
ETH's ‘Most Hated' Rally Could Trigger $331M in Liquidations Near $4K, Says Analyst
Ether's summer surge has ignited fierce debate among market analysts, with many pointing to mounting short positions and shifting capital flows as key drivers behind the rally. The world's second-largest cryptocurrency is now trading near $3,755, up nearly 5.7% in the past 24 hours and more than 25% over the past week, according to CoinDesk Data. ETH holders have welcomed the rally, and some analysts believe it could accelerate further if a short squeeze forces bearish traders to close their positions. '$ETH is the most hated rally right now,' posted Crypto Banter on X, referring to the unusually high level of bearish positioning in the market. According to the CoinGlass data cited by the analyst, approximately $331 million worth of short positions could be liquidated if ether hits the psychologically significant $4,000 level. That liquidation cascade would likely accelerate price momentum in a classic feedback loop. Others see ether's outperformance as a clear sign of shifting market dynamics. Pentoshi, a well-followed trader on X, pointed to the steepest weekly drop in BTC dominance in four years as evidence of capital rotating into ETH. 'Enjoy the next few weeks,' the pseudonymous analyst wrote, adding that ether's current trajectory resembles a 'melt up' — a term used to describe rapid price increases driven more by fear of missing out (FOMO) than fundamentals. Pentoshi also noted a new structural tailwind: the emergence of ETH treasury strategy companies, which are aggressively accumulating ether on their balance sheets. 'Now we have ETH treasury companies that are only a month old and into buying, competing to get 1% of the supply each,' he said. While not naming names, this likely refers to publicly traded firms like Bitmine Immersion Technologies and SharpLink Gaming, whose large-scale ETH acquisitions have drawn increasing attention. Adding to the chorus, crypto analyst Benjamin Cowen highlighted that altcoins continue to underperform relative to ether. 'Alt/BTC pairs go up but they are lagging ETH/BTC,' he posted, suggesting that ether is capturing a disproportionate share of market flows. Cowen argued that ETH now carries lower relative risk than other altcoins and is behaving similarly to how Bitcoin did during previous cycles.
Yahoo
12-07-2025
- Business
- Yahoo
Ethereum's ETH Surges to $3K as ETF Flows, Tokenization Narrative Fuels Rally
Ethereum's ether (ETH) surged on Thursday to its strongest price in more than four months as bitcoin (BTC) broke new record highs. The second-largest cryptocurrency by market capitalization advanced to just shy of $3,000, gaining 6.7% through the past 24 hours. While ETH has significantly underperformed during this cycle and failed to reach new record levels unlike BTC or Solana (SOL), the narrative has recently started to shift around the token. "ETH has taken the lead in price momentum, rallying off recent lows amid a pickup in derivatives activity and growing enthusiasm around its broader role in settlement and tokenization infrastructure," said Joel Kruger, market strategist at LMAX Group. U.S.-listed spot ETFs also saw strong demand, booking over $500 million in inflows month-to-date. Meanwhile, the corporate crypto treasury strategy has expanded beyond bitcoin to ETH as well, with public firms such as Sharplink Gaming and Bitmine Immersion Technology adding the asset to their balance sheet. "In less than one month, public companies will have bought enough ETH to offset all the ETH that's been created since the merge," prominent crypto investor Pentoshi said in an X post earlier this week. "It's 1/9th the market cap of BTC, and takes far less capital to move. That capital is clearly coming."CoinDesk's market analytics model shows that ETH had an explosive rally in the 60-minute interval between 20:58 UTC to 21:57, jumping 6% from $2,819.07 to $2,996.85. The rally occurred in three phases: preliminary consolidation around $2,824 through 21:15, succeeded by an acceleration phase breaking through resistance thresholds at $2,845, $2,870, and $2,920, and culminating in a final advance from to $2,993. Fundamental support levels were established at $2,756.18 and $2,761.11 throughout the trading session. Robust high-volume resistance consolidated around the $2,993.34 threshold.
