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Ether trades below realized price as bottom signals improve

CryptoQuant says ETH is about 17% below its realized price, and only 2 of 5 bottoming indicators are confirmed.

Reported · Written up by our desk · Market Structure

Ether is trading below its realized price as onchain data points to easing selling pressure and recovering demand, but CryptoQuant says a definitive Ethereum cycle bottom has not yet emerged.

In its latest weekly report, the analytics firm said ETH is roughly 17% below its realized price, defined as the average onchain acquisition cost of ETH in circulation, which it estimated at about $2,300. Historically, periods when ETH trades below realized value have aligned with market undervaluation and longer term bottoms, while improving metrics in ETHs valuation versus Bitcoin have also supported the idea of a potential late-stage drawdown.

CryptoQuant also highlighted signs of improving relative strength, including a retreat in ETHs market value-to-realized value, lower exchange inflows, and ETF holdings beginning to recover after months of weakness. It added that ETH/BTC spot trading volumes have fallen into a range typically seen near market bottoms, but that only 2 of 5 bottoming indicators have reached confirmed historical reversal levels.

CryptoQuant further noted that Ether briefly climbed above $1,950 this week and Bitcoin topped $67,000, with activity tied to optimism around the US CLARITY Act. Even so, the remaining indicators are still improving without yet reaching the extremes seen at prior cycle lows, suggesting the bottom may still be forming.

Latest closeBitcoin $65,078.09 ▼1.6%|Ethereum $1,884.72 ▼2.5%

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