Seeing rising indicators of a strong bull case for ETH. 

Increased leverage being deployed. Price moving up despite immense short pressure being applied. Eth stores on exchanges going down.

Let's break down why this situation is coming to a head and what it means for ETH's price action.

This kind of high return in a lending market means a lot of people are taking on leverage rn. 

Usually a sign of boom and bust. 

If the market moves against the direction that leverage is being bet on and triggers liquidation, then the market will move violently in that direction as the bubble pops.

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Right now the majority of pressure is actually against the recent ETH price action. Price will move violently upwards when this leverage bubble bursts.

Personal take is that institutional shorts are holding ETH down so that they can accumulate.

At the same time, ETH holdings on exchanges are approaching record lows. 

Less supply on exchange = less supply sitting on the orderbooks holding price down and less supply sitting idle that could possibly sell.

This also indicates that the supply is moving off exchanges into cold wallets or onchain to be used in Defi applications. 

Supply constraints are good for price.

These are all concrete indicators for me that ETH is about to go ballistic.

This cycle is about stacking ETH frens. Flip your assets to stack mroe ETH. Take gains and accumulate.

Things are about to get silly...

CEO of Perplexity agrees:

https://x.com/aravsrinivas/status/1864149159449907294?s=46

https://x.com/sjdedic/status/1864336014547820938

https://x.com/intocryptoverse/status/1864329794361385099?s=46&t=agioj-lKu4btvEBT1oT7Tg

https://x.com/Cointelegraph/status/1865380744107016546

https://x.com/NTmoney/status/1865417395365708125

https://x.com/arkham/status/1866946017150767206