Ethereum has witnessed a recovery surge recently as on-chain data shows the shark-sized investors have been participating in strong buying.

Ethereum Sharks Have Added 450,000 ETH Since Mid-November

According to data from on-chain analytics firm Santiment, the supply of the Ethereum sharks has gone up recently. The indicator of relevance here is the “Supply Distribution,” measuring the total amount of tokens that a given wallet group as a whole is holding right now.

In the context of the current topic, the cohort of focus is the one corresponding to a coin range of 1,000 to 10,000 ETH. At the current exchange rate, the lower bound of the range roughly converts to $3.2 million and the upper one to $32 million. Investors of this large size are popularly known as the sharks. While not as massive as the whales (addresses with more than 10,000 ETH), the sharks are still considered influential entities. This can make their behavior often worth keeping an eye on.

As the chart below, shared by Santiment, suggests, the latest Ethereum shark behavior has been one of accumulation.

During the November price decline, the Supply Distribution had been going down for the Ethereum sharks, but around the time of the market bottom, its trend began to reverse. Between November 18th and December 2nd, the sharks added a total of 450,000 ETH (worth about $1.4 billion) to their wallets, a massive amount. Alongside this sharp uptick in the metric, ETH went through its price recovery.

The cryptocurrency’s sharp retrace to start December didn’t dissuade these large hands, either, as their supply only continued to rise. This may be one of the factors behind the quick resumption of bullish momentum that the asset has seen. Another bullish factor has been the trend in the Network Growth, another on-chain indicator displayed in the chart. This metric measures the daily number of addresses that are coming online on the Ethereum network for the first time.

A wallet is considered “online” when it participates in transaction activity on the blockchain, so the Network Growth essentially tracks the addresses making their very first transfer.

From the graph, it’s visible that this Ethereum metric has also surged recently, hitting a peak value of 190,000 addresses. Generally, a surge in network activity is usually a positive sign for any rally’s sustainability, as it implies that the network is able to attract fresh attention.

That said, too much attention too fast can actually end up having a negative effect on the cryptocurrency. It now remains to be seen whether the sharks will continue to buy in the near future and if investor FOMO will remain at healthy levels.

ETH Price

At the time of writing, Ethereum is floating around $3,185, up more than 5% over the last seven days.

As the market rebounds, Solana (SOL) is retesting a crucial area that has served as resistance since the November pullbacks. Some market watchers suggest that a short-term rally is likely, while others have highlighted potential signs of weakness.

Solana Eyes $144 Resistance

Solana is attempting to turn the $140 area into support while nearing a key local resistance for the third time in a month. The cryptocurrency has been trading between the $120-$144 levels since mid-November, struggling to hold the high zone of its local range amid the recent market volatility.

Last week, it bounced 10% toward the $140-$144 area but plunged to the range lows after Sunday’s correction, hitting a one-week low of $123 on Monday. As a result, it tested an ascending trendline that has served as support since 2023.

Ali Martinez explained that during the pullbacks, SOL has retested this key support trendline. Notably, each time the cryptocurrency has tapped this trendline, it has registered strong rebounds in the following months, suggesting that the price could rally more than 80% in the mid-term if this support holds.

Following Tuesday’s market rebound, SOL climbed back to the range’s highs, attempting to break above the local range once more. Market observer More Crypto Online affirmed that Wednesday’s rejection from $144 was expected, as it has been a strong resistance for weeks.

The trader considers that investors should not worry as long as the mid-zone of its range, between the $134-$139 levels, holds as support. “It’s not really a breakdown yet; we just have a first sharp pullback,” he affirmed, emphasizing that there’s no evidence that bears are taking the lead.

He noted that breaking below the mid-zone of its range would open the door to a retest of the recent lows and potentially risk a drop to the $117 area or lower. Nonetheless, if bulls take the lead and reclaim the $144 level as support, it will open the door to a retest of higher levels, including the $163 level, where the major next sell wall for SOL is situated.

Is SOL’s Crucial Support Weakening?

Meanwhile, Rekt Capital shared an analysis on longer timeframes, pointing out that Solana has been moving within a clear macro range, situated between the $123 and $296 levels, in the monthly timeframe, clustering in this area since early 2024.

Per the analyst, the cluster has been developing for an extended period, and the potential for distribution and its function as a re-accumulation structure decreases the longer it continues.

Despite this, he emphasized that the focus is on the 21-month horizontal support level. As the analysis noted, Solana recorded a 140% rally during the first major rebound from the region in Q3 and Q4, 2024.

In the second rebound from this support, which started in Q3 2025, SOL saw a significantly smaller rally, surging around 100% to its September local high. Now, the cryptocurrency is rebounding from this level, which could confirm a decreasing trend for the altcoin and raise the alarm about its strength.

“While it is positive to see this rebound, if the move turns into a weaker rebound than the previous ones, then questions will arise regarding the strength of this support,” Rekt Capital asserted.

To prevent this, Solana must breach the one-year downtrend or the multi-week downtrend on the weekly timeframe. “Failing to break either of these trendlines would produce a smaller rally because the prior rebound — the one that rallied around 100% — would fall short and reject from these downtrends instead.”

The analyst concluded that a sequence of progressively smaller bounces “would imply increasing weakness into that support, which in turn would favour the potential for distribution in Solana over time.”

Bitcoin has turned itself around with a sharp surge to $92,000, unleashing a fresh wave of short liquidations on the derivatives exchanges.

Bitcoin Has Seen A Flash Recovery Back To $92,000

Bitcoin suffered a blow on Monday as its price slipped under $84,000, but just as quickly as it had crashed, the cryptocurrency has made a swift recovery on Tuesday.

With the asset’s price now floating above $92,000, its price has surged by more than 8% over the last 24 hours.

Like is usually the case, Bitcoin hasn’t been alone in this rally; the rest of the cryptocurrency market has also shot up alongside the number one digital asset. Some of the top altcoins have even managed to outperform BTC, with Ethereum (ETH) sitting in a profit of nearly 10% for the past day.

The fresh wave of volatility in the sector has triggered a liquidation squeeze in the derivatives market.

Crypto Liquidations Have Crossed $400 Million In Last 24 Hours

According to data from CoinGlass, the cryptocurrency market as a whole has suffered over $410 million in liquidations during the past day. “Liquidation” here naturally refers to the forceful closure that any contract undergoes after it has amassed a certain percentage of loss (as defined by the platform).

Considering that the price action in this window was majorly to the upside, it’s not surprising to see that short contracts made up for most of the derivatives flush.

As is visible in the above table, $348 million in short positions found liquidation in the last 24 hours, equivalent to about 85% of the total flush.

In terms of the individual symbols, Bitcoin, Ethereum, and Solana were the top three contributors to the liquidation event with $196 million, $95 million, and $18 million in positions, respectively.

Just $13 million of the Bitcoin liquidations involved long investors; the rest $182 million in liquidations struck the traders betting on a bearish outcome for the cryptocurrency.

A mass liquidation event like this latest one is popularly known as a squeeze. Today’s squeeze involved shorts in an extreme majority, so the event will be termed a short squeeze.

During a squeeze, a sharp swing in the price triggers a large derivatives flush, which only ends up feeding back into the price move. The amplified price swing then unleashes a further cascade of liquidations.

Such events aren’t a particularly rare sight in the cryptocurrency market, as assets tend to be volatile and many traders opt for significant amounts of leverage.

As the whole crypto market bled, Zcash (ZEC) started December with a massive one-day pullback, leading the losses among top cryptocurrencies. While some market observers suggest that the altcoin is positioned for a major move, others have warned that the price risks another major correction in the coming weeks.

Zcash Loses Key Support Levels Amid Crash

Following the late Sunday market correction, Zcash has lost crucial levels and fallen to one-month lows. Over the past three months, the cryptocurrency has seen a parabolic rally, surging over 1,775% to its all-time high (ATH) of $750 in early November.

Since its ATH rally, the altcoin has been trading within the $440-$720 levels, bouncing between the range’s upper and lower boundaries amid the recent market volatility. However, the end-of-November pullback saw ZEC’s price unsuccessfully retest its key support area, closing the day below this area for the first time in nearly a month.

After losing this zone, Zcash continued to drop below other key support levels, breaking down the $400 barrier and hitting a local low of $328 on Monday morning before bouncing to the $340 area.

Amid this performance, some market observers warned that the altcoin could be in trouble and further bleeding may occur in the coming weeks. Sjuul from AltCryptoGems highlighted that ZEC registers the biggest price drops in the weekly and daily timeframes, with declines of 40.2% and 24%, respectively.

The analyst previously pointed out that the cryptocurrency lost its uptrend after falling below the EMA200, recording “a perfect bearish retest followed by a strong rejection” last week. As a result, Sjuul suggested that if Zcash did not reclaim the key moving average, the cryptocurrency would be positioned for a breakdown to lower support levels.

Similarly, Altcoin Sherpa considers that ZEC could drop another 30%-40% to the $200 area after losing the crucial $440 support. Nonetheless, he added that the price will likely see short-term bounces during its retracement.

ZEC’s Correction: Nothing To Worry About?

Mert Mumtaz, Helius co-founder and CEO, affirmed that a correction after a 700% rally “is normal,” adding that the privacy token “looks great” on higher timeframes. Notably, the cryptocurrency still shows 700% and 485% increases on the three-month and one-year timeframes.

The CEO also highlighted Zcash’s strengths: “privacy is not a narrative, private money is the entire purpose of crypto,” suggesting that the altcoin is positioned to challenge other leading cryptocurrencies like XRP in the future.

Meanwhile, another pseudonym market watcher considers that Zcash is preparing for a big move despite the correction. According to X analyst Make Sense, the cryptocurrency is at a make-or-break level after falling to the $320 mark, its first major support area below the November range.

If ZEC holds the current range, the price could reclaim its recently lost range and bounce to its $500-$600 mid-range. On the contrary, if it loses its current levels, the cryptocurrency could retest the $280 and even $200 area, he affirmed, before a trend reversal.

“This is where market makers decide the next trend: bounce early → mid-range rally or deep sweep → full trend reversal. Either way, volatility is about to explode,” he explained.

As of this writing, Zcash is trading at $338, a 20% decline in the monthly timeframe.

I’ve been involved with the Rebelle Rally since its inception in 2016, either as a competitor or live show host, and over the past 10 years, I’ve seen it evolve from a scrappy rally with big dreams to the world-class event that it is today.

In a nutshell, the Rebelle Rally is the longest competitive off-road rally in the United States, covering over 2,000 kilometers, and it just happens to be for women. Over eight days, teams of two must plot coordinates on a map, figure out their route, and find multiple checkpoints—both marked and unmarked—with no GPS, cell phones, or chase crews. It is not a race for speed but rather a rally for navigational accuracy over some of the toughest terrain California and Nevada have to offer. There are two classes: 4×4 with vehicles like the Jeep Wrangler and Ford Bronco and X-Cross for cars like the Honda Passport and BMW X5. Heavy modifications aren’t needed, and many teams compete for the coveted Bone Stock award.

For this 10th anniversary, I got back behind the wheel of a 2025 Subaru Crosstrek Wilderness as a driver, with Kendra Miller as my navigator, to defend my multiple podium finishes and stage wins and get reacquainted with the technology, or lack thereof, that makes this multi-day competition so special.

Read full article

Comments

© Emme Hall

Bitcoin Magazine

Institutions Stay Bullish on Bitcoin as Retail Capitulates: Bitwise CIO Sees Crypto Rally Ahead

Bitwise CIO Matt Hougan says the crypto market may be nearing a turning point as retail exhaustion deepens and institutional demand quietly builds.

Appearing on CNBC, Hougan — who oversees $12 billion in assets at Bitwise — said retail sentiment is at “maximum desperation” following months of liquidations, leverage blowouts, and yield protocol failures.

“It’s hard to find a crypto native investor who still has much enthusiasm,” he said. “That market is close to a bottom.”

JUST IN: $12 billion Bitwise CIO Matt Hougan on CNBC: “I am optimistic that we are going to rally at the end of the year.” pic.twitter.com/QsEOKaeKBS

— Bitcoin Magazine (@BitcoinMagazine) November 5, 2025

In contrast, Hougan noted that institutional investors remain upbeat. 

“When I speak to financial advisors, they’re still excited to allocate to an asset class that’s delivered strong long-term returns,” he said, adding that he expects a year-end rally as institutional capital begins to take the lead. 

“So I’m optimistic, but we do have to finish this wash out of retail sentiment,” Hougan said.

Meanwhile, on Capitol Hill, Senator Cynthia Lummis reaffirmed her support for digital asset integration within the U.S. banking system. 

Addressing tensions over stablecoin regulation, Lummis said she wants community banks to be able to custody and manage both fiat and digital assets.

“This is the 21st-century economy,” Lummis said on X. “Digital assets are the future, and we need to make sure community banks embrace the opportunity.”

She noted that Louisiana, Virginia, and Wyoming already allow banks to custody crypto — and expects more states to follow as new legislation advances.

Bitcoin price rebound

Bitcoin and the broader crypto market has seen a turbulent month, dipping below $100,000 on Tuesday — its lowest level since June — before rebounding above $103,000 today. 

The slide was driven by heavy selling pressure, nearly $1.8 billion in ETF outflows, and a stronger U.S. dollar following Federal Reserve Chair Jerome Powell’s hawkish tone, signaling that interest rates could stay higher for longer.

The sell-off traces back to October 10, when President Trump announced 100% tariffs and export controls on China, sparking a broad crypto liquidation. Bitcoin fell roughly 20–25% from early October highs, while altcoins like Ethereum and Solana dropped as much as 40%. Crypto-linked stocks, including MicroStrategy, Coinbase, and Robinhood, also slid. 

Open interest in Bitcoin futures fell around 30%, reflecting a pullback from leveraged traders, and the crypto fear and greed index reached “extreme fear.”

But, as retail investors capitulate, Matt Hougan’s comments suggest institutional demand could soon take the lead in crypto accumulation.

This post Institutions Stay Bullish on Bitcoin as Retail Capitulates: Bitwise CIO Sees Crypto Rally Ahead first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Rebounds to $109,000 After ‘Uptober’ Disappointment, Traders Eye November Bounce

Bitcoin price has rebounded slightly to $109,600 after yesterday’s dip to $106,000, ending what has been a tumultuous October for bitcoin.

Traders are now cautiously optimistic as the market transitions from the failed “Uptober” rally to the historically stronger month of November.

Yesterday, Bitcoin tumbled over 3% amid renewed risk-off sentiment sparked by Federal Reserve Chair Jerome Powell’s hawkish comments on future rate cuts and renewed U.S.–China trade tensions. 

The dip extended a week-long decline that began after the Fed delivered a modest 25 basis point cut but signaled uncertainty for December’s meeting.

Bitcoin price had a disappointing October

Bitcoin entered October with high hopes for “Uptober,” a seasonal trend historically associated with double-digit gains. 

Early in the month, Bitcoin briefly touched $125,000, only to give back much of those gains amid macroeconomic jitters and slow institutional activity. On October 10, the bitcoin price dropped sharply to the $108,000 range from $117,000 as the U.S.-China trade tensions and new tariffs triggered a market-wide sell-off. 

At its lowest, Bitcoin fell about 10% on that day and other cryptocurrencies dropped 20–40%, though it later rebounded to around $113,000 amid high volatility.

Strategy (MSTR), one of the largest Bitcoin accumulators, bought just 778 BTC in October — down 78% from September — bringing its total holdings to over 640,000 BTC.

JUST IN: #Bitcoin is about to enter into it's highest performing month on average

Bullish on November pic.twitter.com/GTDUSGIhQd

— Bitcoin Magazine (@BitcoinMagazine) October 31, 2025

Altcoins mirrored Bitcoin’s struggle this month. At times, Ethereum fell below $3,790, while Solana dipped under $187. Despite the weakness, Bitcoin dominance remains steady at roughly 57%, suggesting the market is consolidating rather than capitulating.

Bitcoin price rebound in ‘Moonvember?’

Looking ahead, traders are turning their attention to next month, November — sometimes nicknamed “Moonvember” — which historically follows strong October performances. 

Despite macroeconomic pressures, some analysts see potential for Bitcoin to retest all-time highs going into 2026, assuming stable Fed guidance, renewed inflows, and no new shocks.

That being said, bitcoin has traded in an unusually tight range between $106,000 and $123,000 for over four months, pushing volatility to record lows, a pattern that historically precedes major trending moves. 

If past fractals repeat, Bitcoin could see significant gains toward $170,000–$180,000 by and through  2026, though sideways trading may persist until macro catalysts like Fed rate cuts or capital rotation spur renewed volatility.

This post Bitcoin Price Rebounds to $109,000 After ‘Uptober’ Disappointment, Traders Eye November Bounce first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.