The $ETH Cost Basis Distribution Heatmap reveals some interesting trends, showing that buyers have been strategically taking profits around $2,520, which is visible in the fading red band since July 1. However, there’s still nearly 2M ETH being held, indicating confidence in the market.
Key takeaways here:
• Strategic profit-taking is happening, but it's not a sign of panic, just calculated moves.
• Bullish sentiment persists, with traders expecting more upside ahead.
• New demand is continuing to absorb the available supply, keeping momentum strong.
The market is looking healthy, and it seems like #ETH traders are making some smart moves
