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Ethereum valuation metric reaches 2022 highs as traders eye $2.5K

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Crypto Breaking News

Ether (ETH) has lifted above $2,150 and is primed for a potential retest of the March highs near $2,385, with broader upside driven by sustained spot activity and growing participation in the futures market. A macro indicator suggests ETH is in a rare undervaluation zone, implying that selling pressure could be fading and an accumulation phase may be forming, though confirmation hinges on reclaiming key levels.

Analysts note that the current rally appears to be supported by spot demand, while derivatives have begun to align with the move rather than leading it. If the momentum holds, traders will be watching whether ETH can extend into the $2,475–$2,635 fair-value gap, which could act as a magnet for buyers in the near term.

Key takeaways

  • ETH cleared the $2,150 resistance on a roughly 6.3% push and is eyeing a retest of the $2,385 zone, with potential further upside into the $2,475–$2,635 fair-value gap.
  • Spot demand remains robust, with the aggregated spot cumulative volume delta (CVD) trending high at 184,500 ETH in April, while futures CVD climbed to about 4.36 million ETH, suggesting derivatives are supportive but not driving the move.
  • The funding rate sits at roughly 0.52% (positive), and open interest hovers near 4.75 million ETH, indicating a long-biased but still range-bound market with limited leverage.
  • Capriole Macro Index Oscillator reads -2.42 for ETH, a rare undervaluation signal historically linked to capitulation and trend reversals, hinting at limited downside against potential upside if the pattern repeats.
  • The ETH taker buy/sell ratio has been rising for four to five months, signaling persistent buying pressure from market participants even as other cycles unfold.

ETH price action and market structure

On the daily timeframe, ETH has surged past a key barrier at $2,150, expanding the path toward higher anchors. The immediate target sits around the March swing high near $2,385, with the market potentially moving toward the $2,475–$2,635 fair-value gap beneath the broader price action. A series of repeat tests around $2,150 over the last two months has eroded resistance at that level, suggesting buyers are willing to step in at progressively higher prices.

In the four-hour view, ETH is showing higher lows and is attempting to push into the $2,250–$2,300 zone, signaling a constructive short- to medium-term setup if momentum remains intact.

On-chain and derivatives signals

Market participation appears to be tilt toward spot, with the spot CVD still elevated at 184,500 ETH for April, indicating sustained demand from buyers in the actual traded market. The futures side has not yet overwhelmed the narrative, but the futures CVD rising to about 4.36 million ETH points to growing derivatives activity supporting the move rather than driving it outright.

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The funding rate is positive at around 0.0052, implying a mild long bias, while open interest sits near 4.75 million ETH and remains range-bound. Collectively, the data paint a picture of a controlled accumulation phase where spot demand leads but futures positioning gradually catches up, potentially enabling a stronger breakout if new longs compound their exposure.

Macro context: undervaluation signals and historical patterns

Capriole Investments’ Macro Index Oscillator currently registers -2.42 for ETH, a reading the firm characterizes as a rare undervaluation zone historically associated with capitulation and eventual trend reversals. The metric blends on-chain signals, cycle positioning, and investment behavior; deeply negative readings have preceded important bottoms in the past, including a notable trough around mid-2022 and another signal prior to late-2023 rallies after earlier declines.

Looking back, similar extremes have coincided with macro bottoms followed by recoveries, lending some credibility to a potential period of outperformance if ETH can reclaim higher levels. Data from Capriole also highlights that the negative reading in April 2025 coincided with a local bottom near $1,500, setting the stage for a rally thereafter.

CryptoQuant’s taker buy/sell ratio adds another layer to the narrative, having trended higher for several months. This pattern aligns with a gradual shift from distribution to accumulation, supporting the argument that demand may be building beneath the surface even as price cycles unfold.

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Capriole Macro Index Oscillator and CryptoQuant data underpin the current thesis that ETH could be poised for a deeper revaluation if the macro-driven accumulation continues and a breakout is sustained.

As markets digest these signals, investors will be watching whether ETH can convert these nuanced indicators into a durable higher-trading regime. A clean reclaim of the $2,400–$2,500 zone would be a meaningful step toward validating the bullish arc described by the current chart and on-chain readings. Conversely, failure to anchor above these levels would raise questions about how much longer spot-driven demand can sustain the bid without a stronger futures-driven expansion.

From a broader perspective, the current setup suggests a delicate balance between on-chain demand and derivatives exposure. While the data point to a controlled accumulation, the magnitude of the move could hinge on a decisive shift in futures positioning and macro liquidity conditions in the weeks ahead.

Traders should stay attentive to any break above $2,500, which would open the door to the next resistance cluster. If that occurs, the market could retest higher targets more quickly; if not, ETH may consolidate and reassess the pace of the rally against evolving funding dynamics and macro risks.

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What remains uncertain is how the evolving macro backdrop and evolving on-chain activity will interact with the technical setup. A sustained move beyond the $2,500 level, supported by expanding futures positioning and continued spot demand, would strengthen the case for a continued ascent toward higher quarterback levels in the mid-term. Keep an eye on the balance between spot and futures delta, the macro oscillator, and the taker ratio as the next clues of where ETH is headed.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Top Quantum Computing Stocks for 2026: IonQ, IBM, and Microsoft Lead the Charge

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IONQ Stock Card

Key Highlights

  • IonQ achieved a groundbreaking 99.99% fidelity world record and targets millions of qubits by 2030.
  • IBM earned a “Perfect 10” Smart Score rating on TipRanks with Moderate Buy consensus and analysts projecting 40.49% upside.
  • Microsoft’s Majorana 1 chip powers chemistry research applications and carries a Strong Buy rating with 56.62% potential upside.
  • Alphabet’s Google released research suggesting blockchain encryption could be compromised by quantum algorithms as early as 2029.
  • Industry analysts forecast the quantum computing sector will surge from $1.42 billion in 2024 to $4.24 billion by 2030.

Quantum computing has transitioned from theoretical research into tangible commercial applications at an accelerating pace. For investors monitoring this emerging sector, three companies emerge as particularly compelling: IonQ, IBM, and Microsoft.

The quantum computing industry reached a valuation of $1.42 billion in 2024. Market researchers anticipate this figure will climb to $4.24 billion by the decade’s end. Such explosive expansion is attracting enterprise clients, lucrative government partnerships, and substantial capital investments.

IonQ: Prioritizing Precision Over Speed

IonQ has established itself as the premier pure-play quantum computing enterprise. The company’s technology recently achieved an unprecedented 99.99% fidelity rating in industry-standard benchmarking tests—a global achievement.


IONQ Stock Card
IonQ, Inc., IONQ

Precision represents the fundamental obstacle preventing quantum computing’s mainstream adoption. Systems plagued by frequent computational errors cannot deliver reliable results for practical applications.

IonQ’s approach centers on trapped ion technology. This methodology prioritizes exceptional accuracy over raw processing velocity, contrasting sharply with the superconducting architectures favored by competitors.

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The organization’s 2026 roadmap includes deploying a 256-qubit architecture. Looking further ahead, IonQ aims to construct million-qubit systems by 2030. Successfully achieving these milestones while maintaining current accuracy standards could position the company as dominant in precision-dependent sectors.

IonQ’s quantum systems are accessible through partnerships with Amazon Web Services, Microsoft Azure, and Google Cloud. The company currently commands approximately $11 billion in market capitalization.

IBM: Bridging Quantum and Traditional Computing

IBM has charted a distinctive strategic course. Instead of solely pursuing qubit quantity, the tech giant emphasizes integrating quantum capabilities into established enterprise infrastructure.


IBM Stock Card
International Business Machines Corporation, IBM

IBM’s development strategy centers on hybrid architectures where conventional CPUs, GPUs, and quantum processors operate cohesively. Industry experts consider this integration model the most viable pathway toward immediate commercial viability.

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TipRanks analysts awarded IBM the platform’s maximum Smart Score of 10 out of 10. The stock maintains a Moderate Buy consensus rating, with Wall Street projecting 40.49% appreciation potential.

IBM leverages its extensive enterprise computing heritage and established client relationships, providing immediate market access for quantum services. The company’s development pipeline emphasizes enhanced qubit coherence and sophisticated error correction protocols.

Microsoft: Strategic Innovation with Transformative Potential

Microsoft has maintained a relatively understated public profile regarding quantum achievements compared to rivals like Google or IonQ. Nevertheless, its Majorana 1 quantum processor is delivering measurable outcomes.


MSFT Stock Card
Microsoft Corporation, MSFT

The processor currently facilitates advanced chemistry research, enabling quantum simulations of intricate molecular behaviors that exceed classical computing capabilities. CEO Satya Nadella has characterized quantum technology as the forthcoming catalyst for cloud computing evolution.

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Microsoft’s research concentrates on topological qubit architectures—a forward-looking methodology promising superior stability compared to existing quantum systems. The company’s Azure Quantum platform seamlessly embeds quantum capabilities into corporate computing environments.

Wall Street analysts assign Microsoft a Strong Buy recommendation with 56.62% upside potential. The stock holds a Smart Score of eight out of ten on TipRanks.

Alphabet’s Google division released 2025 research demonstrating an algorithm potentially capable of compromising contemporary blockchain encryption protocols in minutes—possibly operational by 2029. This revelation emphasizes the remarkable velocity of quantum computing advancement.

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AI’s Impact on Employment Clashes With C-suite Optimism

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AI’s Impact on Employment Clashes With C-suite Optimism

In March, the US jobs market recorded 178,000 new jobs, marking little change from the month before, according to the Bureau of Labor Statistics. 

The anemic growth in job listings comes amid volatile policy swings from the White House, increased energy prices due to the US and Israel’s war with Iran and, according to recent research, AI disruptions to the labor market. 

Proponents of AI and large language models have claimed that the tech will bring about an economic boom, thanks to the promise of efficiency breakthroughs. 

But as AI becomes more integrated into daily business operations, there is a widening gulf between that promise of growth and efficiency, and what is actually happening. 

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AI dampens employment growth

On March 6, venture capitalist and Netscape co-founder Marc Andreessen said on X that fears about AI job displacement were overblown. 

Source: Marc Andreessen

He also posted an article from Business Insider stating that, at least in tech, job openings are on the rise. Citing data from TrueUp, a tech jobs tracker, Business Insider said that job openings at tech companies have doubled to 67,000 since 2023.  

But openings don’t necessarily translate to hiring. According to the Bureau of Labor Statistics, most employment growth in March did not happen in the tech industry. Of the 178,000 new jobs added in March, healthcare employed 76,000, construction grew by 26,000, transportation and warehousing added 21,000 and employment in social assistance increased by 14,000.  

While the report doesn’t have a single section tracking the tech industry, related services like computing infrastructure providers and web search portals saw a 1,500 job decrease, or almost no change, respectively. Computer systems design and related services lost 13,000 jobs.

Related: Jack Dorsey’s Block to cut 4,000 jobs in AI-driven restructuring

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AI has actually axed 16,000 jobs per month over the past year, according to a recent report from Goldman Sachs, as cited by Fortune. In particular, AI has led to a collapse in hiring for entry-level roles. A 2025 study from SignalFire found that new grad hiring had dropped 50% compared to pre-COVID-19 pandemic levels. 

Source: SignalFire

“The door to tech once swung wide open for new grads. Today, it’s barely cracked. The industry’s obsession with hiring bright-eyed grads right out of college is colliding with new realities: smaller funding rounds, shrinking teams, fewer new grad programs, and the rise of AI,” the SignalFire study stated. 

This disruption could create ripples far into the future. According to Goldman Sachs, “AI-driven displacement could impose lasting costs on affected workers, worsening labor market outcomes for several years.”

“A key mechanism behind these worse outcomes is occupational downgrading. Workers displaced by technology are more likely to move into more routine occupations requiring fewer analytical and interpersonal skills, likely because the same technological shifts that eliminated their positions also eroded the value of their existing skills,” they continued

These job losses are justified by the theory that AI will, at the very least, make workplaces more productive. But even that isn’t a given.

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Reality of AI use clashes with C-suite expectations

Executives are still overwhelmingly supportive of AI. According to Harvard Business Review, 80% of leaders report weekly use of AI, with 74% reporting positive returns on early deployments. 

But workers don’t feel the same. A study from HR consulting firm Mercer found that, for 43% of workers, their job is more frustrating. 

One major issue is the number of mistakes churned out by generative AI. “For every 10 hours of efficiency gained through AI, nearly four hours are lost to fixing its output,” a Workday report stated. 

AI can also be used to offload labor onto coworkers in what researchers at the Harvard Business Review have called “workslop” i.e., “content that appears polished but lacks real substance, offloading cognitive labor onto coworkers.”

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They said that “41% of workers have encountered such AI-generated output, costing nearly two hours of rework per instance and creating downstream productivity, trust, and collaboration issues.”

According to Workday, only 14% of respondents to their survey said they “consistently achieve net-positive outcomes from AI use.”

Part of the gulf between executives’ understanding of AI and the reality at the productive level may be explained by the technology itself. 

Per the Harvard Business Review, “Senior leaders tend to use AI for high-level synthesis, strategic drafting, and decision support, tasks where the technology performs well, so the current capabilities tend to benefit their work.”

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For messier day-to-day operations like “workflows built over years, teams with uneven technical comfort, output that has to be consistently right, not just fast,” it doesn’t work so well. 

“When the tool works, both groups understand and reap the benefits. When it fails, typically only one of them has to cope with the aftermath.”

Many still don’t think that AI can handle complex tasks. Source: MIT

Brian Solis, the head of global innovation at enterprise AI firm ServiceNow, said that this divide has created an “AI tax,” i.e., “More checking. More rework. More anxiety. Faster pace. AI slop. Less trust.” 

Andreessen may not believe that the AI job-cut narratives are real, but OpenAI does. The AI company has acknowledged the impact the technology has on employment, and has even released a series of policy proposals to address it.

The list contains ideas that are “intentionally early and exploratory” that serve as a “a starting point for discussion that we invite others to build on.” It includes proposals to expand healthcare coverage, retirement savings and setting a new industrial policy agenda. 

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Far from Andreessen’s optimism, OpenAI’s proposal included a warning: “Unless policy keeps pace with technological change, the institutions and safety nets needed to navigate this transition could fall behind.”

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