Glassnode: The current cost basis level of ETH investors may be in the $2,800 range, and selling pressure is gradually increasing

the on-chain analysis platform Glassnode stated in a post on X platform that the current cost basis level for ETH investors is around $2800. As the price approaches this price range, seller costs are gradually increasing, as many investors who previously held large amounts of funds may seek to reduce risk near the breakeven point.

In addition, if the price stagnates, investors holding at this price level may intensify rapid selling, and if accompanied by ETF outflows or whale withdrawals, market sentiment may change.