btcrebound90knext

Ethereum just went through one of the deepest leverage flushes of 2025… and what’s happening now is exactly the kind of setup smart money waits months for.

After the brutal 38% slide from $4,700 down to $2,900, ETH has finally reclaimed the $3,000 zone — rising 7.22% in a week and shaking out every over-leveraged long that overstayed the rally. What’s left behind is a market that feels strangely calm, almost like it’s resetting for the next major move.

XWIN Research Japan highlights something most retail traders completely miss:
Open interest across all exchanges has dropped from $21B to $17B — meaning the excess leverage is gone, weak hands are out, and positions are now built with healthier, moderate leverage. Funding rates falling to 0.002 confirm the same thing: the market is cooling off before it heats up again.

On-chain data adds another layer. ETH’s MVRV sitting near 1.0 puts it in the “fair value” zone — a region historically associated with bottom formation, not tops. And the recent bounce perfectly aligned with whale wallets accumulating at their realized price. Translation:
Big players stepped in exactly where they always do.

Evidence?
• Ethereum Treasury BitMine now holds 3.63M ETH
• A BlackRock client quietly bought tens of millions worth of ETH
• Despite all this demand, the ETH Spot ETF saw $1.42B in withdrawals — meaning sellers have been fueling an accumulation opportunity for the patient

ETH is still down 22% this month, so most short-term traders are underwater. But that’s also why the structure looks like a “bottom-building phase.” Choppy price. Fake rallies. Sharp dips. Exactly the kind of environment that loads fuel for the next expansion.

If history repeats — and it often does — this is the zone where smart money reloads and retail doubts.
The next leg won’t wait forever.

#ETH #BTCRebound90kNext #CryptoRally #TrumpTariffs $ETH