On-chain data source Santiment strategy indicator: ETH’s exchange supply has fallen 15% over the past 11 weeks, while BTC’s exchange balances rise in sync. This indicator tracks the flow of funds in and out of exchanges. Reduced exchange supply is often seen as chips moving out and a buildup/accumulation signal, while rising balances imply potential sell pressure.
Price check: ETH is currently trading at 2263, up 18% in the past 24 hours, consistent with the ongoing contraction in supply. On-chain chips are accelerating out of exchanges. BTC is currently at 69852, up 8.6% in the past 24 hours, but exchange balances are increasing—suggesting this rebound is accompanied by some positions moving into exchanges, which may increase short-term volatility.
Under this strategy framework, ETH is in the validation stage of “supply tightening pushing up prices”; meanwhile, BTC needs to watch for pullback windows caused by balance increases. Keep an eye on two key levels: for ETH, resistance above looks to be around 2350; for BTC, if it holds the 70000 integer level, the impact of the balance data weakens, but if it breaks below 68000, the sell-pressure logic takes the upper hand.#ETH #BTC
Price check: ETH is currently trading at 2263, up 18% in the past 24 hours, consistent with the ongoing contraction in supply. On-chain chips are accelerating out of exchanges. BTC is currently at 69852, up 8.6% in the past 24 hours, but exchange balances are increasing—suggesting this rebound is accompanied by some positions moving into exchanges, which may increase short-term volatility.
Under this strategy framework, ETH is in the validation stage of “supply tightening pushing up prices”; meanwhile, BTC needs to watch for pullback windows caused by balance increases. Keep an eye on two key levels: for ETH, resistance above looks to be around 2350; for BTC, if it holds the 70000 integer level, the impact of the balance data weakens, but if it breaks below 68000, the sell-pressure logic takes the upper hand.#ETH #BTC