Time To Go Bullish On Ethereum

Ethereum (ETH) has plummeted 11.4% in the past 24 hours, reflecting a broader market downturn that saw Bitcoin (BTC) drop by 8%, XRP by 13.6%, and Solana (SOL) by 12.9%. Despite the sea of red, several leading voices, including CryptoQuant CEO Ki Young Ju, are calling for a more optimistic perspective on ETH.

Sharing His “Bullish Thoughts on ETH”

Sharing his “bullish thoughts on ETH” via X, Ki Young Ju argued there has been “no significant sell pressure” despite the recent Bybit hack, pointing out that both on-chain and market data remain neutral. “Exchange selling takes time, and OTC offloads barely affect the price,” he added.

He also emphasized Ethereum’s dominant share of the stablecoin market cap—currently around 56% and noted how potential regulatory shifts under the Trump administration, which is reportedly “easing crypto regs,” could spur further adoption of ETH-based stablecoins and smart contracts in 2025.

Additional Catalysts

Ju referenced additional catalysts, reminding followers that the ETH spot ETF “is already approved,” suggesting that a “Large Cap ETF altseason” might be on the horizon for Ethereum. He added, “BlackRock ETH spot ETF holdings increased 124% over the past three months.”

Lastly, Ju highlighted growing whale accumulation: addresses holding 10,000 to 100,000 ETH have increased their balances by 24% over the past year, with the current price “nearing the cost basis of accumulating addresses.”

Conclusion

Ju admitted he was “surprised” by what he sees as an overwhelmingly bearish mood on Crypto Twitter. “Wow, CT [Crypto Twitter] sentiment on ETH is extremely bearish. Let me know if you have any data-driven analysis to support your bearish thesis. Most bears seem to cite the dropping price itself as their reason for selling. Very interesting,” Ju remarked.

FAQs

What is the current price of Ethereum? The current price of Ethereum is $2,382.

What is the reason behind the recent price drop? The recent price drop is attributed to a broader market downturn, with Bitcoin (BTC) dropping by 8%, XRP by 13.6%, and Solana (SOL) by 12.9%.

What are the potential catalysts for a bullish Ethereum? According to Ki Young Ju, potential regulatory shifts under the Trump administration could spur further adoption of ETH-based stablecoins and smart contracts in 2025, as well as the approval of the ETH spot ETF, which could lead to a “Large Cap ETF altseason” for Ethereum.

What is the current sentiment on Crypto Twitter? According to Ki Young Ju, the sentiment on Crypto Twitter is extremely bearish, with many citing the dropping price as the reason for selling.

What is the current trend in whale accumulation? According to Ki Young Ju, addresses holding 10,000 to 100,000 ETH have increased their balances by 24% over the past year, with the current price “nearing the cost basis of accumulating addresses.”