According to Charles Edwards (@caprioleio), Ethereum has recently experienced an onchain capitulation comparable to the significant events of 2022. In response to this major sell-off, the Ethereum Macro Index is now trending upwards, which may indicate a fundamental shift in market sentiment and potentially signal the start of a new accumulation phase. Traders watching Ethereum price action should note that such macro index reversals historically align with improved risk-reward dynamics for long positions, as observed in prior cycles (source: Charles Edwards, Twitter, April 28, 2025).