According to Santiment, Ethereum has shown mild signs of a rebound, with its market value reaching $2,745 and outpacing most altcoins at the start of the week. Additionally, from a long-term perspective, Ethereum is increasingly moving off exchanges and into cold wallets, with only 6.38% of its supply remaining on exchanges. This trend is significant for traders as reduced exchange supply can indicate less selling pressure and potentially a bullish sentiment.

According to Cas Abbé, Bitcoin is experiencing its largest supply crunch in recent history, with exchange supply dropping to a 7-year low. Long-term holders are actively accumulating, while the OTC desk balance has decreased by 300,000 BTC from its peak. Despite these developments, market sentiment remains very bearish, and retail investors are capitulating.