Ethereum Price Surpasses $4,000 Amid Trump Asia Visit Optimism
Ethereum Surpasses $4,000 Amid Geopolitical Influence
- Ethereum price rose to $4,099 on October 26, marking a 10% increase from a low of $3,811.
- The price surge is linked to geopolitical optimism surrounding Trump's Asia visit and upcoming trade talks with Xi Jinping.
- Top cryptocurrencies, including BTC, SOL, and XRP, also experienced gains over the weekend.
Ethereum Treasury Firms Lead in Supply Dominance
- Ethereum treasury firms surpassed Bitcoin counterparts in supply dominance, holding 3.2 million ETH compared to 640,040 BTC.
- Growth fueled by regulatory frameworks and approval of ETH ETF staking.
- ETH's Proof-of-Stake transition reduced energy consumption by 99%, attracting global investors seeking sustainable options.
Bearish Sentiment at Resistance Levels
- Ethereum stabilized near $4,077 after hitting an intraday peak of $4,099.
- Derivatives data shows increased bearish positions, with a long-to-short ratio of 0.82.
- Bears have deployed $650 million in short contracts around the $4,150 resistance level.
- If ETH breaches this, lighter opposition exists until the $4,240 zone; failure could see prices fall back to $3,911 support.
