McGlone flags downside risk for Ethereum as network activity hits record high

cryptonews

01/27

Ethereum is sending mixed signals to investors, with bearish macro warnings colliding with record on-chain usage. Summary Ethereum’s seven-day simple moving average of active addresses climbed to...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMcGlone flags downside risk for Ethereum as network activity hits record high\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cryptonews</strong><span class=\"h-time small\">2026-01-27 07:59</span>\n</p>\n</h4>\n</header>\n<article>\n<div>\n<p>Ethereum is sending mixed signals to investors, with bearish macro warnings colliding with record on-chain usage.\n\n\nSummary\n\n\n\nEthereum’s seven-day simple moving average of active addresses climbed to...</p>\n\n<a href=\"https://crypto.news/mcglone-downside-risj-ethereum-network-activity/\">网页链接</a>\n\n</div>\n\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://crypto.news/mcglone-downside-risj-ethereum-network-activity/\">cryptonews</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ETHT","symbol_name":"ProShares Ultra Ether ETF","start_time":0,"source_url":"https://crypto.news/mcglone-downside-risj-ethereum-network-activity/","article_id":"2606273312","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/mcglone-downside-risj-ethereum-network-activity/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2606273312","pubTimestamp":1769471940,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"Ethereum is sending mixed signals to investors, with bearish macro warnings colliding with record on-chain usage.Ethereum’s seven-day simple moving average of active addresses climbed to roughly 718,000.Despite the surge in activity, Ether has struggled to break out of its established trading range.Ether appears vulnerable to further downside, according to Bloomberg Intelligence commodity strategist Mike McGlone.Bloomberg Intelligence commodity strategist Mike McGlone said Ether appears vulnerable to further downside, warning that the token is more likely to slip below key support than break to new highs as broader market volatility returns.The cautious outlook stands in contrast to Ethereum’s on-chain data, which shows accelerating network activity even as prices remain rangebound.Despite the surge in activity, Ether has struggled to break out of its established trading range. The token was up about 3% on the day, but remained well below recent highs.For now, Ethereum’s fundamentals a","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"ETHT":"ProShares Ultra Ether ETF","BK4601":"加密货币现货ETF","ETHI":"Defiance Leveraged Long Income Ethereum ETF","03009":"博时以太币","03179":"嘉实以太币","SETH":"1倍做空以太币期货ETF-Proshares","BK1611":"加密货币现货ETF","03046":"华夏以太币","ETH":"低成本以太坊ETF-Grayscale","ETHD":"ProShares UltraShort Ether ETF","YETH":"Roundhill Ether Covered Call Strategy ETF","EETH":"以太币期货ETF-ProShares","ETQ":"T-Rex 2X Inverse Ether Daily Target ETF","ETCO":"Grayscale Ethereum Covered Call ETF","ETHE":"最大以太坊ETF-Grayscale","ETU":"T-Rex 2X Long Ether Daily Target ETF","BTF":"比特币&以太币期货ETF-CoinShares","ETHW":"以太坊ETF-Bitwise"},"translate_title":"随着网络活动创历史新高，麦格隆指出以太币面临下行风险","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ETHT":0.6,"ETHD":0.6,"ETHE":0.6,"BTF":0.6,"ETHW":0.6,"EETH":0.6,"ETQ":0.6,"ETHI":0.6,"SETH":0.6,"YETH":0.6,"ETCO":0.6,"03009":0.65,"03179":0.65,"ETU":0.6,"03046":0.65,"ETH":1.96},"content_text":"Ethereum is sending mixed signals to investors, with bearish macro warnings colliding with record on-chain usage.\n\n\nSummary\n\n\n\nEthereum’s seven-day simple moving average of active addresses climbed to roughly 718,000.\nDespite the surge in activity, Ether has struggled to break out of its established trading range.\nEther appears vulnerable to further downside, according to Bloomberg Intelligence commodity strategist Mike McGlone. \n\n\n\nBloomberg Intelligence commodity strategist Mike McGlone said Ether appears vulnerable to further downside, warning that the token is more likely to slip below key support than break to new highs as broader market volatility returns.\n\nEther appears to be heading toward the lower end of its $2,000-$4,000 range since 2023. I see greater risks of it staying below $2,000 than above $4,000, especially when stock market volatility rebounds. pic.twitter.com/1IAMV10Jwe— Mike McGlone (@mikemcglone11) January 25, 2026\n\nThe cautious outlook stands in contrast to Ethereum’s on-chain data, which shows accelerating network activity even as prices remain rangebound.\nEthereum’s seven-day simple moving average of active addresses climbed to roughly 718,000, the highest level on record, according to blockchain data. The milestone signals rising user participation and transaction demand across the network.\nDespite the surge in activity, Ether has struggled to break out of its established trading range. The token was up about 3% on the day, but remained well below recent highs.\nThe divergence between flat prices and rising usage has historically preceded periods of price appreciation, as expanding network activity often reflects growing utility that markets reprice with a lag. Analysts say the latest increase in activity may be driven by higher Layer-2 adoption, renewed decentralized finance usage, or returning retail participation.\nFor now, Ethereum’s fundamentals appear to be strengthening even as macro risks — including equity market volatility and tightening financial conditions — weigh on investor sentiment, leaving traders to decide whether network growth or broader risk-off pressures will ultimately dictate ETH’s next move.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}