Tom Lee’s BitMine may have scooped up another 41,946 ETH

Ethereum's price has retraced from the $3,240 level and is currently testing the $3,150 support zone, a critical area for traders amid ongoing market volatility and selling pressure. Despite a modest rebound, uncertainty persists as bulls attempt to defend this level.

Bitcoin has recently experienced a significant liquidity injection of $13.5 billion from the Federal Reserve, marking the end of its quantitative tightening program. This move has led to a notable increase in the total cryptocurrency market cap, which has risen by over $250 billion since early December. The injection is seen as a potential catalyst for a bullish trend in Bitcoin and the broader crypto market.

Bitcoin remains stable at around $90,000, while corporate acquisitions of Ethereum have plummeted by 81% over the last three months. Despite this decline, major ETH holders are continuing to purchase significant amounts of Ether, indicating a strategic accumulation amidst market fluctuations.

Polymarket has reported a surge in the odds of Bitcoin dropping to $80,000 by year-end, now standing at 40%, indicating a shift in market sentiment towards skepticism regarding Bitcoin's near-term growth. This development reflects broader concerns among investors about the cryptocurrency's stability and potential price declines.

Bitcoin's price has dropped below $89,000, resulting in a loss of over $100 billion from the cryptocurrency market, highlighting the ongoing volatility and sensitivity of digital currencies to economic indicators.

Bitcoin is currently trading around $91,000 after a minor dip, with analysts divided on the market's direction. Some believe the recent correction is a healthy reset, while others fear the onset of a new bear market. A critical price level for young long-term holders is the Realized Price of $96,956, which is seen as a psychological barrier for market stability.

ProShares has decided to withdraw its lineup of leveraged exchange-traded funds (ETFs) that included Bitcoin, Ether, XRP, and Solana following a request for revisions from the SEC. This move underscores the ongoing regulatory scrutiny faced by financial products linked to cryptocurrencies, particularly those involving leverage.

Glassnode has introduced new interpolated implied volatility metrics for crypto options, enhancing market analysis capabilities for traders. This innovation aims to improve risk assessment and help identify strategic opportunities across various digital assets.