Ethereum's stakers just locked a record share of supply — while its ETFs bled for a sixth straight day. Two camps, one coin.
Camp one, the stakers: 44.6 million ETH is now staked — about 36.5% of supply — and the queue to join (931,000 ETH) runs over three times the queue to exit. I'm watching holders dig in.
Camp two, the flows: US spot ether ETFs have lost about $696 million in November, one inflow day in eight. ETH slipped under $2,000 for the first time since August, near $1,930, down about 13% on the week, RSI near 25 — stretched, but stretched is not a bottom.
Where I land: the staking wall is real, but it doesn't set the price while ETF selling runs one way. My lines: $1,920, then $1,827. Reclaiming $1,971 repairs it; a daily close under $1,827 ends my range read.
What nags at me: RSI says stretched, yet sellers keep winning — and the ETF queue hasn't turned.
$1,827 holds or $1,971 reclaims — which print comes first?
NFA, DYOR.
$ETH $BTC #Ethereum #ETF #Staking #EthereumAnalysis
Camp one, the stakers: 44.6 million ETH is now staked — about 36.5% of supply — and the queue to join (931,000 ETH) runs over three times the queue to exit. I'm watching holders dig in.
Camp two, the flows: US spot ether ETFs have lost about $696 million in November, one inflow day in eight. ETH slipped under $2,000 for the first time since August, near $1,930, down about 13% on the week, RSI near 25 — stretched, but stretched is not a bottom.
Where I land: the staking wall is real, but it doesn't set the price while ETF selling runs one way. My lines: $1,920, then $1,827. Reclaiming $1,971 repairs it; a daily close under $1,827 ends my range read.
What nags at me: RSI says stretched, yet sellers keep winning — and the ETF queue hasn't turned.
$1,827 holds or $1,971 reclaims — which print comes first?
NFA, DYOR.
$ETH $BTC #Ethereum #ETF #Staking #EthereumAnalysis
