The institutions' hands have finally pushed open the door to ETH's bull market! Today, ETH's one-hour line violently broke through $3600, with a daily increase of over 5%, setting a six-month high, and this is just the prelude to the 'bulldozer market' driven by whales and ETF funds.
Who is behind the 'bulldozer-style rally'?
ETFs crazily absorbed $700 million, institutions have fully revealed their positions.
Last night, the U.S. spot ETH ETF saw a net inflow of $717 million in a single day, setting a new historical record. Among them, BlackRock's ETHA accounted for $489 million, and Fidelity invested $113 million—these institutions are declaring with real money: Ethereum is now the new darling of traditional capital. Even more frightening is that this month, ETFs have accumulated over $2.27 billion, equivalent to $24 million being poured into the ETH market every day.
A mysterious giant whale has made early preparations, spending $300 million in 10 days.
This morning at 8:49, an unknown institution withdrew 14,982 ETH (approximately $51 million) from the Kraken exchange. This marks the 10th consecutive day that this address has been accumulating, totaling 103,274 ETH (approximately $298 million) at an average price of $2885, with unrealized profits reaching up to $63 million. This posture of 'only withdrawing but not selling' clearly signals a long-term holding strategy.
Technical perspective: Overbought but hard to resist the 'policy rocket'.
The candlestick has broken the critical ceiling.
This morning at 9 am, ETH's one-hour candle closed at $3620, breaking not only the upper band of the Bollinger Bands (3550) but also shattering the psychological barrier of 3500. The MACD lines are widening (DIF 54.21 > DEA 45.15), and the red bars are continuously expanding, indicating a strong bullish control.
Hidden pullback risks? Washout is an opportunity.
The current RSI is as high as 79, seriously overbought, with the range of 3529-3540 marked as the 'oscillation washout zone'—this is the golden pit for the main force to clean out retail investors. However, unlike before, institutional buying support is like a dam holding up the price: When it retraced to 3524 this morning, buy orders instantly piled up three layers of support, bringing it back above 3600 within 10 minutes.
My view: A pullback is just a reloading phase, the altcoin season will explode.
When institutions like BlackRock use ETFs to hoard ETH like gold, the market logic has fundamentally changed. Although the early morning high of $3624 faced resistance, every time it retraced to $3540, large institutional buy orders provided support (on-chain monitoring detected five large buy orders in the tens of millions).
What is more intriguing is the rotation of funds: After ETH rose 40% in July, altcoins like XRP, SOL, and DOGE followed suit with a 20%-35% rise within 24 hours, clearly indicating an overflow of profits from ETFs. This confirms my prediction from last week: 'When ETH breaks 3500, it's the start of the altcoin season.'
Hook: This round of market action is far from over—The U.S. House of Representatives has just overwhelmingly passed three major crypto bills (Genius Act) (Clarity Act), and the policy gates for traditional capital to enter have truly opened at this moment!
If you are watching the market daily and still losing money, then my most common saying is: 'It's not that you cannot do it, it's that the method is wrong.' I have completed the modification of six rolling recovery models. I can share them, but only with those who are seriously looking to turn their situation around; no casual inquiries, please.