Ethereum Rebounds 6%, But Coinbase Demand Remains Weak

AI Briefing

• – Ethereum's price has rebounded above $2,100 despite the Coinbase Premium Index remaining in the negative territory, indicating a possible lack of interest from US-based institutional investors. The Ethereum Coinbase Premium Index has been in the red zone for Ethereum, showing that users on Coinbase have been applying higher selling pressure than those on Binance. The long-term trend is supported by the MVRV Ratio, which has rebounded after a retest of a significant level, indicating a 'Generational Buy' zone for Ethereum.