Traded Value$BitMine Immersion Tech(BMNR.US)'s holding Ethereum rose approximately 3.2% over the past 24 hours, demonstrating resilience despite the Ethereum Foundation selling around $23 million worth of ETH. For the second consecutive week, the network absorbed the foundation’s selling pressure with ease, holding firm on price gains.
Short sellers betting against ETH faced significant losses, with bears losing roughly $8.2 million in the past day: about 6.7x more than those positioned for price increases. Overall market positioning remained balanced with a long/short ratio of 0.94, indicating the market is digesting the increased supply without notable stress.
Trading activity also picked up, as roughly $12 million more ETH flowed into exchanges than left them over the past 24 hours. This net inflow reflects growing interest and participation as the network continues to attract new users.
@Bridge Buzz SG
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