BlockBeats News, February 17 — Despite ETH declining approximately 20% since February and briefly falling below the $2,000 psychological level, on-chain data and derivatives structures indicate that the market is brewing a potential rebound.
On-chain data shows that over 2.5 million ETH flowed into long-term holding addresses in February, with the holdings of related addresses increasing from 22 million to 26.7 million since 2026. At the same time, approximately 37.22 million ETH (over 30% of circulating supply) are staked, and the circulating supply continues to shrink. The network’s fundamentals have also significantly improved, with weekly transaction counts reaching a record high of 17.3 million, median Gas fees dropping to $0.008, about 3,000 times lower than the peak in 2021.
Technically, ETH on the 4-hour chart may be forming an “Adam and Eve bottom” reversal pattern. If the price effectively breaks above the $2,150 neckline, the target range is projected between $2,473 and $2,634. If the recent high and low structure is broken, $1,909 is a key short-term liquidity level.
In derivatives, the open interest of ETH contracts has fallen to $11.2 billion, a significant decline from the August 2025 cycle high of $30 billion, but the estimated leverage remains relatively high at around 0.7. Data shows that approximately 73% of accounts are in long positions; the liquidation heatmap indicates over $2 billion in short positions are under pressure to be liquidated above $2,200, while around $1 billion in longs near $1,800 are also at risk of liquidation, suggesting higher risk of a squeeze above that level.
Analysts believe that if ETH can successfully break above $2,150, it could open up short-term upside potential, targeting the $2,500 level.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ETH short-term rises 0.59%: large funds clustered buying drives it, and liquidity shocks amplify volatility
From 14:15 to 14:30 (UTC) on 2026-04-06, the ETH price realized a return of +0.59%. It traded within the USDT 2142.15 to 2165.93 range, with an amplitude of 1.11%. The short-term rise was accompanied by a clear increase in trading volume; market attention improved, and real-time sentiment showed bullish/positive buying pressure, with volatility intensifying.
The primary driver of this unusual move is that a large amount of capital entered and concentrated in the market in a short period of time. On-chain data shows that during this window, the total trading volume across ETH’s main trading pairs increased by about 20%, and many individual orders were greater than 500 ETH; the indicators are significant.
GateNews48m ago
BitMine position update: holds over 4.8 million ETH and 198 BTC, with total assets of $11.4 billion
BitMine released a holdings update on April 6. The total value of its crypto assets and moonshots reached $11.4 billion. It holds ETH, BTC, and multiple equity positions, and has been approved to upgrade from NYSE American to the NYSE main board. The stock will begin trading in the new market on April 9.
GateNews2h ago
Financial and Crypto Expert Reveals Two Reasons to Be Bullish on Ethereum Over Bitcoin
Financial and crypto expert reveals two reasons to be bullish.
Specifically, he says he is more bullish on Ethereum over Bitcoin.
He states that an ETH investment now could be the best investment ever.
The crypto community has been debating the pros and cons of Bitcoin and altcoins
CryptoNewsLand3h ago
Crypto Market Sees Wider Rebound As $ETH and $BTC Lead Gains Despite Fearful Sentiment
The crypto market experienced a 2.23% gain, reaching a $2.36T market cap, with Bitcoin and Ethereum rising 3.17% and 3.78%, respectively. Notable gainers included $TRUMP, $GROK, and $MAGA. DeFi TVL increased by 1.72%, while NFT sales rose 5.79%. HypurrFi warned users of domain hijacking, and Apple removed Bitchat from China.
BlockChainReporter4h ago
LD Capital founder Yi Lihua: Buying up ETH below $200 is a strategy you can hold until the peak of the bull market
Gate News, April 6, LD Capital founder Yi Lihua posted on social media saying that it looks like the war is finally going to end. Although he doesn’t understand politics, it’s still surprising that it has gone on for so long and now. He believes that after it ends, the market will rebound for a while rather than reverse. For an investment strategy, Yi Lihua suggests that if it’s a long-term trend investment, buying ETH at a bottom under $2,000 can get you to the top of the bull market; if it’s a short-term swing trade, you can take profit based on the level.
GateNews4h ago
