Ethereum is experiencing substantial sell pressure similar to the 2022 bear market. Galaxy Digital has distributed more than 62,000 ETH, valued at approximately 99.46 million USD, indicating active market movements. Investors are facing losses as many bought ETH at higher prices.
To achieve a bullish reversal, Ethereum must exceed a 20% gain from its current level of 1,583 USD. A critical demand-absorption zone is essential, as the current market sentiment remains bearish amid sell-offs and realizations of accrued losses.
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