Is $20K ETH price now in play? Ethereum market enters ‘belief’ zone

Onchain data suggests Ethereum is in the “belief” stage of the bull cycle amid fresh all-time highs, opening the door to potentially even higher prices.

Key takeaways:

Ether’s long-term holder net unrealized profit/loss indicator suggests the price has entered the “belief” phase.

The market value to realized value suggests ETH is undervalued, with room to run toward $5,500.

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