ETH is trading approximately 17% below its realized price of $2,300, with only two of five signals indicating historically bottomed levels. Selling pressure is easing, but capitulation is still missing. The ETH/BTC MVRV ratio has fallen from extreme overvaluation to neutral without reaching extreme undervaluation. Sharplink repurchased 10,000 ETH for approximately $16 million in late June. ETH has retreated to $1,860 after a seven-week high of $1,950, but remains up 12% over thirty days.
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