Time To Turn Bullish On Ethereum? CryptoQuant CEO Spots Key Signals

1 day ago

Ethereum (ETH) has plummeted 11.4% successful the past 24 hours, reflecting a broader marketplace downturn that saw Bitcoin (BTC) driblet by 8%, XRP by 13.6%, and Solana (SOL) by 12.9%. Despite the oversea of red, respective starring voices—including CryptoQuant CEO Ki Young Ju—are calling for a much optimistic position connected ETH.

Time To Go Bullish On Ethereum

Sharing his “bullish thoughts connected ETH” via X, Ki Young Ju argued determination has been “no important merchantability pressure” contempt the caller Bybit hack, pointing retired that some on-chain and marketplace information stay neutral. “Exchange selling takes time, and OTC offloads hardly impact the price,” helium added.

He besides emphasized Ethereum’s ascendant stock of the stablecoin marketplace cap—currently astir 56% and noted however imaginable regulatory shifts nether the Trump administration, which is reportedly “easing crypto regs,” could spur further adoption of ETH-based stablecoins and astute contracts successful 2025.

Ju referenced further catalysts, reminding followers that the ETH spot ETF “is already approved,” suggesting that a “Large Cap ETF altseason” mightiness beryllium connected the skyline for Ethereum. He added, “BlackRock ETH spot ETF holdings accrued 124% implicit the past 3 months.”

Lastly, Ju highlighted growing whale accumulation: addresses holding 10,000 to 100,000 ETH person accrued their balances by 24% implicit the past year, with the existent terms “nearing the outgo ground of accumulating addresses.”
However, Ju admitted helium was “surprised” by what helium sees arsenic an overwhelmingly bearish temper connected Crypto Twitter.

“Wow, CT [Crypto Twitter] sentiment connected ETH is highly bearish. Let maine cognize if you person immoderate data-driven investigation to enactment your bearish thesis. Most bears look to mention the dropping terms itself arsenic their crushed for selling. Very interesting,” Ju remarked.

On his alternate X account—under the grip @kate_young_ju—he reiterated that “whales are stacking ETH,” pointing to the existent outgo ground for these accumulating addresses astatine astir $2,199, compared to the spot terms hovering adjacent $2,505.

Ju is not unsocial successful challenging the doom-and-gloom marketplace narrative. AdrianoFeria.eth (@AdrianoFeria), an subordinate of the ETH community, asserted that “the marketplace is successful the shitter” but urged investors to absorption connected high-level organization and governmental signals favoring Ethereum.

He specifically cited reports of the US President and household purchasing “hundreds of millions of dollars worthy of ETH,” the CEO of BlackRock’s endorsement of tokenization (and BlackRock’s ain tokenized USD experimentation connected Ethereum), and Bybit’s request to bargain ample quantities of ETH to screen its hack—potentially fueling much demand.

Feria besides mentioned that Ken Griffin, the CEO of Citadel believes Ethereum could regenerate Bitcoin. For this assemblage member, the information that “everyone connected CT is inactive taking a crap connected ETH” lone reinforces a contrarian bullish stance.

Popular crypto expert IncomeSharks (@IncomeSharks) weighed successful by posting a illustration showing different “red scary candle” but indicating a bargain portion supra $2,400.

Meanwhile, Chris Burniske, spouse astatine Placeholder VC, offered humanities perspective, reminding followers of 2021’s mid-cycle drawdowns: BTC fell 56%, ETH 61%, SOL 67%, and galore different assets 70-80%. According to Burniske, “you tin travel up with each the reasons for wherefore this rhythm is different, but the mid-bull reset we’re going done isn’t unprecedented. Those calling for a afloat blown carnivore are misguided.”

At property time, ETH traded astatine $2.382.