$4.5 billion of $ETH is waiting to be staked, and that pending deposit still dwarfs the amount waiting to unstake. about 1.68 million ether is waiting to enter the validator set on mainnet. only about 154,000 is waiting to leave. that is 10.9 times more demand to lock than to exit, at roughly $2,680 a coin. withdrawals did pick up earlier this month, when pending exits jumped off near-zero toward 130,000. they have not caught the inbound side. staking still pays. unstaking still takes time. those 154,000 coins are not sold yet. they are only becoming liquid after the wait. $ETH is holding the mid-$2,600s after the bounce with $BTC toward $87,000. a large pending deposit is a bid for yield, not a guarantee of $3,000. if exits start growing faster than 1.68 million, that 10.9x shrinks fast. so more ether wants in than out. $4.5 billion is waiting to stake. 154,000 is waiting to leave. the ratio is the story until one of those waits flips. #BTC Price Analysis# #Bitcoin Price Prediction: What is Bitcoins next move?# $BTC