According to @glassnode, Cost Basis Distribution data shows a clear divergence in spot flows: BTC spot activity is dense while ETH is sparse with air gaps (source: Glassnode on X, Sep 2, 2025). According to @glassnode, this implies ETH price dynamics are more influenced by off-chain markets such as derivatives than by spot flows (source: Glassnode on X, Sep 2, 2025). According to @glassnode, traders tracking ETH should therefore emphasize derivatives metrics like funding, open interest, and basis to gauge price drivers, whereas BTC appears more spot-driven given its dense CBD profile (source: Glassnode on X, Sep 2, 2025).

According to @cas_abbe, ETH rebounded precisely from a cited supertrend support, indicating buyers defended the level and the trend remains intact. Source: Cas Abbé on X, Aug 20, 2025: https://twitter.com/cas_abbe/status/1958096721835184219 @cas_abbe reports that BitMine purchased over $200M in ETH yesterday and plans to deploy additional capital, pointing to incremental spot demand. Source: Cas Abbé on X, Aug 20, 2025: https://twitter.com/cas_abbe/status/1958096721835184219 @cas_abbe also notes the Coinbase ETH premium has turned positive, signaling increased institutional participation on Coinbase and supportive order flow for ETH. Source: Cas Abbé on X, Aug 20, 2025: https://twitter.com/cas_abbe/status/1958096721835184219