📢 ETH's Profitability: A Double-Edged Sword? 📊
Glassnode data highlights a critical zone for Ethereum (ETH) holders. While ETH shows technical strength, a slight price drop below the current range could push a large number of holders into a loss.
This raises the risk of panic selling, potentially adding significant pressure to the market. So, while ETH is performing well, its support might be shallow unless it moves definitively away from this sensitive cost zone.
Key Takeaway: ETH needs to solidify its position above the current cost basis to prevent a surge in selling pressure from holders looking to break even. Keep an eye on those profitability metrics!
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