Is Ethereum’s $3K rejection a spark for ETH’s next breakout?

Key Points

1. Ethereum (ETH) experienced a 2% drop and rejection at the $3,000 resistance level, leading to $82.28 million in long liquidations.

2. Open Interest (OI) remained stable, declining only 0.55% from its record $43.94 billion, suggesting resilience in the market.

3. Spot ETH ETFs saw $260 million in new inflows, totaling nearly $1.1 billion over four trading days, the strongest run since their launch.

4. Strategic reserves of Ethereum surpassed $4 billion, with 1.11% of the supply controlled by 50 entities, including BlackRock's recent $150 million ETH purchase.

5. ETH/BTC data shows Ethereum's OI drawdown at just 2%, indicating more stability compared to Bitcoin's 3.72% drop in OI.