Eth Back Where It Belongs
One line chart... yes it is silly but it tells a good story. When BTC enters a bear market it is known for touching the previous bull runs all time high . The previous bull run touched ~$20,000. As you know, BTC was floating in that area until the FTX debacle pushed it way lower. Had FTX/Alameda/Genesis not had imploded in historic fashion, BTC likely would have held the general ~20,000 area. Ethereum is now doing the same. It collapsed well below its' 2018 all time high but quickly regained it back. You can make an argument that the stellar run crypto has had the past few days is simply a market regaining position back to where it rightly belong... at previous bull market all time high. Should these levels hold this would mean the bottom is likely in and we begin a new bull market sometime soon.
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