Analysts say Bitcoin is nearly in its “max pain” zone as the cost basis of 
BlackRock’s IBIT and Strategy’s massive BTC treasury draws near.

Bitcoin slump to $86K brings BTC closer to ‘max pain’ but great ‘discount’ zone

The cryptocurrency market finds itself at a compelling crossroads, and 
Ethereum has once again returned to a pivotal on-chain support zone that has 
historically marked major turning points in its market cycle. With ETH now 
pressing against this same support, the market is exhibiting a strong reaction 
that could confirm the integrity of the long-term trend. Why This On-Chain 
Support Zone Defined Ethereum Recovery Ethereum’s price is sitting right on 
top of its most important on-chain support, and the behavior around this level 
is exactly what occurs before a big reversal. A popular crypto news site, 
CryptosRus, has revealed on X that the ETH price sharply dropped to $2,870 
earlier today, only to bounce instantly after Nvidia&#8217;s earnings lifted the 
entire market. CryptoRus highlighted that this bounce isn&#8217;t the real story, 
but the level at which it happened is. Related Reading: Ethereum Big Wallets 
Are Back: Whales Are Quietly Accumulating ETH – A Rally On The Way? Presently, 
the $2,800 zone is a strong on-chain floor for ETH. This is because the level 
lines up perfectly with the realized price of both retail and whales. These 
are the same zones that have marked the ETH bottoms in every past cycle, and 
ETH just tapped it perfectly. The classic signature of a bottom-zone behavior 
is that small wallets are in panic, while big wallets are buying in silence. 
Meanwhile, the on-chain rotation data has clearly shown that retail holders 
are selling, while whale investors holding 10,000 ETH and above are steadily 
loading up. A similar sentiment has been detected in the liquidation data. 
Long liquidations are barely moving on each new low, which means that the 
forced sellers are gone and the short sellers have been piling in 
aggressively. That&#8217;s the perfect setup for a squeeze. According to the expert, 
ETH didn&#8217;t just dip; it slammed into a major on-chain support, as large 
investors bought it up with conviction. Meanwhile, retail dumped it in panic, 
shorts crowded it, and now even a small bounce can trigger the fireworks. 
Historical Patterns Suggest A Reset Precedes The Next Expansion Ethereum had 
just repeated the identical liquidity pattern that occurred at the last two 
major bottoms, and it happened almost in the same week. An analyst known as 
Milk Road has stated that every single major ETH reversal started with a full 
liquidity reset. Related Reading: Ethereum Price Uphill Battle Continues as 
Sellers Hold the Advantage As that same liquidity reset occurs again, that&#8217;s 
when the ETH price begins its next massive expansion leg, which is exactly the 
setup ETH is currently in. In the meantime, the next phase will depend 
entirely on how quickly the market depth can be rebuilt. Featured image from 
Freepik, chart from Tradingview.com

Ethereum Is Sitting On Its Most Critical On-Chain Support Level — A Rally Emerging?

WLFI price is forming a bullish Three Drives pattern at the $0.12 support 
zone, with rising volume signalling a potential reversal toward higher 
resistance levels.

WLFI price forms bullish Three Drives with rising volume: Reversal forming?

Tether is pushing into Latin America with the acquisition of the regional 
digital asset custody platform, Parfin.

Tether plants its flag in Latin America with Parfin acquisition

FG Nexus sold 10,922 ethereum ( ETH) in October to accelerate its ongoing 
share repurchase program, the company said in a shareholder update. The news 
arrives on the heels of other digital asset treasury (DAT) firms pulling the 
same move, as ETHzilla, Lite Strategy, and Sequans have trimmed crypto 
positions on their balance sheets. FG […]

Cryptocurrency price in CLP