Ethereum Price Rebounds 3.8% Amid Market Recovery

The crypto market experienced a modest rebound in the last 24 hours, with Ethereum's price rising by 3.8% from its recent low of $2,064.

This move can be attributed to several factors, including a technical bounce from the $2,000 support level and short covering as traders reduced their risk exposure.

On-chain analytics revealed that large wallets had been net buyers of Ethereum in nine out of the last 12 weeks, indicating accumulation at current prices.