TechFlow News, May 28: According to Cointelegraph, Ethereum broke below the $2,000 mark—the first time since March. Despite the ongoing price weakness, on-chain data indicates retail “buy-the-dip” sentiment continues to intensify. Santiment notes that historically, excessively optimistic retail sentiment often signals the market has not yet bottomed; genuine buying opportunities typically emerge during phases of market panic. Glassnode, a blockchain data platform, shows that since 2026, whale addresses holding more than 10,000 ETH have reduced their holdings by over 5%. However, BitMine—founded by Tom Lee—still holds approximately 5.21 million ETH, representing roughly 4.31% of the total supply. Technically, ETH has broken below its ascending wedge pattern; analysts suggest it may further decline toward the $1,750 level, implying roughly an 18% downside from current prices.
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