In accordance with Bijié Wǎng, Ethereum (ETH) has remained in a narrow trading range for three weeks, failing to break key resistance levels and lagging behind Bitcoin in gains. On-chain data shows 20% of ETH supply is currently at a loss, with buying pressure Delta turning negative for the first time since Q2. Despite $81 million in ETF outflows, long-term holders have been accumulating, redeeming 200,000 ETH (worth $780 million) from exchanges within 48 hours, bringing total reserves down to 6.1 billion ETH. The tightening supply and long-term holders' confidence suggest the 6.6% monthly decline may be a healthy correction rather than capitulation.
Ethereum Trapped in Three-Week Range Amid ETF Outflows and Holder Resilience
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