Ethereum’s Rollercoaster: Will the Bulls Jump Back On? 🐂💸

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Ah, Ethereum. That ever-shifting mirage of digital currency that keeps us all wondering whether we’re truly geniuses or just overly ambitious daydreamers. Currently, ETH is hanging around the lofty heights of $3,758—that’s about as close to dazzling wealth as most of us will get without winning the lottery. 💰

Now picture this: on July 21, ETH soared to a splendid local high of $3,851, like a hot air balloon filled with dreams, only to plummet down to a mere $3,658. Traders, in classic speculative form, are scratching their heads and asking, “Is this the infamous local top?” Spoiler alert: at the time of this writing, ETH has tumbled down nearly 3% on the day, accompanied by a trading volume eating up the charts at $442 billion. Talk about leaving the party with your pockets lighter! 🕺

Digging deeper into this enigmatic crypto tapestry, on-chain data from our friends at Glassnode reveals something positively riveting. It seems profit-taking is lurking around the $2,520 mark like a hungry bear, as indicated by the fading red hues on the ETH Cost Basis Distribution Heatmap. Honestly, it’s like seeing your favorite show cancel its last season just when things were heating up.

The visual drama unfolds: the $ETH Cost Basis Distribution Heatmap hints at profit-taking from eager buyers around $2,520. Yet, despite the rollercoaster rides, they still clutch nearly 2 million ETH. Key takeaways include: 1) Strategic profit-hungry decisions, 2) Optimistic outlooks for the future, and 3) New faces mingling with existing supply. Who says the crypto world can’t be social?

— glassnode (@glassnode) July 22, 2025

And here’s an eyebrow-raising twist: nearly 2 million ETH still nestles comfortably with these traders, hinting at a confidence level that rivals a cat walking across a keyboard (and we know that’s bold). The good folks at Glassnode chime in, suggesting that more upside might be dancing just around the corner as fresh demand boldly absorbs available supply.

Meanwhile, Santiment dishes out further gossip revealing that whale wallets are giving ETH a rousing endorsement as “the top crypto to buy this bull season.” Signal-to-noise ratio much? While the number of Bitcoin whale wallets holding over 1,000 BTC took a tumble by 39, Ethereum’s 10,000+ ETH wallets flourished, increasing by 45. It’s like watching a garden bloom while a drought claims the wheat fields!

🐳 A splendid spectacle of numbers! Crypto’s market caps seem to be playing their own game of tug-of-war:

📉 Bitcoin’s 1K+ $BTC wallets DROP by 39 (-1.8%), price down -3%.

📈 Ethereum’s 10K+ $ETH wallets RISE by 45 (+4.0%), price up +25%.

🔗 Keep track of the whale social scene here:

— Santiment (@santimentfeed) July 21, 2025

But wait—there’s more! Data warriors over at Lookonchain confirm that fresh wallets have taken the plunge into Ether, much like diving headfirst into a pool of Kool-Aid. One wallet, dubbed 0x8eEa, nabbed another 25,213 ETH (a staggering $94.67 million), with a total accumulation of 72,333 ETH in just three days. Talk about a shopping spree!

Whale watch: 🐋

Wallet 0x8eEa carted off another 25,213 $ETH ($94.67M) from FalconX just three hours ago. The grand total? A whopping 72,333 $ETH ($267M) over three days—the kind of haul that makes one ponder their life choices.

— Lookonchain (@lookonchain) July 22, 2025

The plot thickens with institutional interest pulling out all the stops. Ethereum spot ETFs have emerged like superheroes, boasting inflows of over 588,000 ETH last week—17 times the historical average! Take that, history! 📈

Just in case you missed it: #Ethereum spot ETFs basked in inflows of over 588K $ETH last week, nearly 17 times the historical average and more than double the previous record.

— glassnode (@glassnode) July 22, 2025

And amidst all this digital frenzy, our very own Eric Trump couldn’t resist tweeting in celebration of Ether surpassing $3,800, further solidifying its status among the mainstream. Because let’s face it—who doesn’t want a piece of that action?

— Eric Trump (@EricTrump) July 22, 2025

ETH Price Suggests Bullish Outlook

Now, if we peek at the daily chart, we might catch ETH easing itself back from the upper Bollinger Band after a robust ascension. It’s like a well-earned breather in a month-long sprint. The bands remain wide, promising continued volatility and potential upside. Hang tight, folks!

ETH price chart with RSI and Bollinger Bands | Source: TradingView

The RSI, standing proudly in the overbought zone, has traders bracing for possible consolidation or a gentle correction before the next explosive leg upwards. Eyes will be glued to the key resistance forming near $3,933. Should ETH break through this glorious barrier, it could potentially dart towards $4,200—that magical land of digital riches!

But like any good cliffhanger, beware: if the clouds darken with downside pressure, ETH might dip to $3,300, with a deeper plunge leading to a disappointing $3,000 crash landing. Fasten your seatbelts!

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2025-07-22 16:36