Despite a slight drop below $2,900 last night from its high point of $3,000, Ether rebounded this morning and hovered around the $3,000 mark once again. However, the question remains whether the $3,000 price range will be a difficult barrier for Ether to break through.
According to information shared by IntoTheBlock, there are still over 16 million ETH addresses currently in a loss position, accounting for approximately 14.7% of the total number of addresses. When Ether surpasses $3,000, around 879,000 addresses will turn profitable. These addresses have been in a loss position for two years and may seek to sell at this psychological threshold to avoid further losses.
However, IntoTheBlock emphasizes that while some addresses may sell when Ether reaches $3,000, the number of these addresses is relatively small compared to the total number of profitable addresses (over 83% of addresses are already in a profit position). This means that the majority of market participants are unlikely to sell just because the price reaches $3,000. Therefore, these potential sell-offs may not be enough to have a long-term negative impact on the market price.
