Ethereum Price Remains Steady Above $2,300 Amid Bearish Signals

The Ethereum market has continued its strong start to the week, with the cryptocurrency's price remaining steady above $2,300. This stability is notable given the presence of bearish signals across various metrics.

Derivatives data indicates a growing bearish bias, as Ether's funding rates have remained negative and futures Open Interest (OI) has not shown significant changes.

However, the on-chain supply metric reveals that retail investors have been strong sellers in the past week, offloading approximately 820K ETH. This selling activity is likely attributed to short-term holders, as evidenced by a decline in the 90-day Mean Coin Age metric.

In contrast, whales have maintained positive sentiment, accumulating 230K ETH last week.