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Crypto

Ethereum rally sees little profit-taking as exchange holdings fall

Ethereum has rebounded about 27 percent, but the amount of ether held on exchanges has fallen, suggesting limited profit-taking. Exchange holdings dropped about 18 percent from 7.69 million ETH in early June to 6.28 million, with roughly 1.4 million ETH leaving exchanges for self-custody wallets and staking protocols. Outflows continued after Aug. 16 even as ETH rose to $2,528, while bitcoin exchange holdings edged up 0.25 percent. Technical resistance remains around $2,497 to $2,585, with $2,600 seen as a key level.

Crypto

Bitcoin selling pressure clusters in low-$80,000s, with $83,000 a pivotal level

Bitcoin has struggled to turn $80,000 into support, while resistance is concentrated in the $81,000 to $86,000 range, Cointelegraph reported. Glassnode identified $83,000 to $86,000 as the first key supply zone, largely held by long-term holders who have not sold for at least six months. New sell liquidity has also accumulated in exchange order books. Multiple technical indicators cluster around the $80,000 area, thickening resistance.

Crypto

Shiba Inu breaks 11-month downtrend, climbs above 200-day moving average

Shiba Inu has moved above its 200-day moving average, ending an 11-month downtrend that began in September last year. It has stabilised in a $3.22 billion to $3.26 billion market-cap band that is shifting from resistance to support. Japan’s Financial Services Agency licensed Nomura-backed Laser Digital and included Shiba Inu among approved institutional assets. A $3.1 billion short squeeze and strong August performance also supported gains.