ETH could bottom at $700 based on historical Delta Price indicator

On-chain analyst Ali Martinez noted on X that the Delta Price indicator, which has accurately predicted past Ethereum (ETH) bottoms, is currently near the $700 level. Developed by crypto analytics firm Alphractal, the metric reflects the relationship between the average investor's entry price and miners' production costs, though its relevance for ETH has been debated since the network's transition to Proof-of-Stake (PoS). Martinez added that if history repeats, ETH could retest $700 before its next uptrend.