ETH recovers key short-term holder level, but rally resembles bear market relief

Amid the recent crypto market rebound, ETH has reclaimed the $2,300 level, which represents the realized price for one- to three-month holders, Glassnode reported. However, the analytics firm noted that the current trend is more akin to a relief rally within a bear market, similar to what was seen in the third and fourth quarters of 2022, rather than a structural trend reversal.