Analyst: ETH Testing Key Support at $2,340, Price Action Could Determine Bull/Bear Line

April 23 – Israeli Defense Minister Katz said after a situation assessment on the 23rd that Israel is ready to reignite conflict with Iran, adding it’s “only waiting for the U.S. green light.” (CCTV News)

April 23rd — Onchain Lens monitoring shows Morgan Stanley bought ~143.34 BTC roughly an hour ago, valued at about $11.17 million. The firm now holds 1,964 BTC, worth approximately $153.41 million.

As of April 23, Bitcoin is inching toward $80k in a gradual rebound—analysts note this signals a meaningful market structure improvement, though investor confidence still faces tests. On April 21, spot Bitcoin ETFs posted net inflows of over $11.8M (six straight days of gains), while spot Ethereum ETFs saw ~$43.4M in net inflows (nine consecutive days of positive flows). Glassnode says Bitcoin has broken above its $78.1k "realized market value" for the first time since mid-January—marking a notable reversal after months of weak structure. Still, the short-term holder cost basis sits at $80.1k, acting as direct overhead resistance. Glassnode analysts note a move to $80k would put over 54% of recent buyers in the black—a threshold historically tied to the end of bear market rebounds. Short-term holder profits have surged to $4.4M per hour, nearly triple the $1.5M seen at each of this year’s local tops. Bitfinex analysts are more bullish on the medium term: Wallets holding 1,000+ BT

Per Bitget data as of April 23rd, the S&P 500 has reversed earlier losses to climb, hitting a new intraday high. It is currently up 0.12% at 7,144 points.

April 23 — Aave published an update on the rsETH incident: "The rsETH reserve has been suspended across Ethereum mainnet, Arbitrum, Base, Mantle, and Linea. This step aligns with the fund recovery plan aimed at reclaiming as much of the funds as possible. The community will be kept informed of progress as the follow-up process continues."

Binance Futures will conduct automatic liquidations for specified inverse perpetual contracts at the times below, per an official announcement released April 23: - B3USDT, DEGENUSDT, and BOBUSDT inverse perpetual contracts: April 28, 2026, 17:00 UTC+8 - ZKJUSDT, IRUSDT, and DAMUSDT inverse perpetual contracts: April 29, 2026, 17:00 UTC+8 Following the automatic liquidations, Binance Futures will delist all the aforementioned inverse perpetual contract trading pairs.