Ethereum drew attention as chart watchers compared the current cycle setup with the 2021–2022 structure, while large ETH transfers pointed to active positioning by major holders. Together, the updates kept focus on whether recent price structure and onchain activity align or diverge.
Ethereum Chart Highlights Structural Shift Between Cycles
A post shared on X by the account Max Crypto compares Ethereum’s 2021–2022 price structure with its current chart setup, pointing to a notable shift in technical patterns across cycles. The image focuses on long-term price action against the U.S. dollar and relies on labeled formations rather than new indicators or external data.
Ethereum U.S. Dollar 10D Chart. Source: Max Crypto
During the 2021–2022 cycle, the chart shows Ethereum forming a head and shoulders pattern after an extended uptrend. Price then broke below a rising support line, signaling a loss of trend strength. According to the chart annotation, ETH declined by roughly 65% within about two months after that breakdown, marking a sharp reversal from prior highs.
In contrast, the current cycle highlights an inverse head and shoulders pattern. The structure shows a lower low marked as the head, followed by two higher lows forming the shoulders. Price action develops within a rising channel, while the neckline slopes upward across recent swing highs. At the time shown in the image, Ethereum trades near the $3,100 level on the chart’s price scale.
Based on the comparison, the post frames the earlier pattern as a topping structure that preceded a major decline, while the current formation suggests a different phase of market behavior. The chart implies a potential continuation scenario tied to the inverse pattern, although it presents no volume data, indicators, or confirmation signals to validate timing or outcome.
BitMine Adds ETH Staking While FG Nexus Sends $8.04 Million to Galaxy Deposit
BitMine increased its Ethereum staking exposure on Tuesday, according to data shared by the X account TedPillows. The post said BitMine staked an additional $270.618 million in ETH and lifted its total staked position to about $5.521 billion.
BitMine Ethereum Outflows to Staking Address. Source: TedPillows
Transaction records shown with the claim list several large ETH transfers from BitMine-labeled wallets to the same destination address starting with 0x9212. The listed outflows include 24.544K ETH, 16.992K ETH, 24.544K ETH, and 20.768K ETH, with values displayed around $78.93 million, $54.67 million, $78.97 million, and $66.83 million.
Separately, TedPillows reported that Ethereum treasury firm FG Nexus moved another $8.04 million worth of ETH, describing the transfer as continued selling. The activity log shows an outflow of about 2.5K ETH to an entity labeled “Galaxy Digital Deposit,” with a value of $8.04 million at the time of the entry.
FG Nexus Ethereum Transfers to Galaxy Digital Deposit. Source: TedPillows
The two updates point to contrasting flows in ETH, with one entity directing large amounts toward a staking-linked destination and another routing ETH to a deposit address tied to a trading and custody firm.
Source: https://coinpaper.com/13898/ethereum-shows-cycle-shift-as-bit-mine-stakes-270-m-and-fg-nexus-moves-eth
