"When the Trump family takes action, the crypto world will shake three times! On August 2nd, Little Trump called for buying ETH at the bottom, and the market finally welcomed a reversal. Last night, Old Chen also said, if the lifeline at 3500 is held, there will definitely be a rebound. Now a large bullish candle is directly coming out on the four-hour level. The horn of the bulls has already sounded.
Key bull-bear dividing line:
Short-term support: $3,354 (recent pullback low), breaking below may test $3,300 (psychological barrier).
Upper pressure: $3,651 (recent resistance level), breaking through may challenge $3,800.
On-chain data signals:
One, movements of giant whales:
1: Smart money cashed out $138 million
An address that previously made precise profits from WBTC has recently sold 38,582 ETH (approximately $138 million). If all are sold, it will profit $36.57 million.
This address still holds 25,054 ETH (approximately $87.5 million), deposited in Aave, possibly for lending or waiting for a higher price to sell.
Interpretation: Large funds are exiting their arbitrage positions, and short positions have been released. This smart money, which skillfully manipulates WBTC, has cashed out ETH on a scale of $138 million, but they still have $87.5 million worth of ETH sitting in Aave. Smart money seeks profit, not just to 'go short', these assets deposited in Aave are more likely for future lending arbitrage or selling in the next round of price increases. They are laying out liquidity tools in advance, which instead reflects their confidence.
2: Institutions bought $300 million worth of ETH on dips
A giant whale has bought $300 million worth of ETH through Galaxy Digital OTC in three days, currently with a floating loss of about $26 million.
Within three days, a giant whale has swept up $300 million in ETH through Galaxy Digital OTC. Although there is currently a floating loss of $26 million, from their behavior of daring to increase their positions during the pullback, it can be judged that this money is not for short-term speculation, but for betting on mid-to-long-term value.
Interpretation: Institutions will not chase highs and kill lows like retail investors; their capital structure is more stable and their layouts are deeper. Their entrance indicates that there is strong support below, and the market has limited room to drop further.
Two, staking and institutional holdings: Long-term bullish signals
1: Staking activity continues to grow
An ETH reserve institution increased its holdings by 15,846 ETH (approximately $5.534 million) and deposited it for staking seven hours ago.
BitMine Immersion Technologies (with Wall Street background) has accumulated 625,000 ETH (approximately $2.4 billion), aiming to hold 5% of Ethereum's circulating supply and earn 3-5% annualized returns through staking.
Interpretation: Institutions continue to increase their positions in ETH and stake, indicating recognition of Ethereum's long-term value. Staking locks up a large amount of liquidity, which may reduce market selling pressure and support prices.
Three, stablecoins and DeFi activities: Strong demand for ETH
Ethereum remains the main battlefield for stablecoins, carrying over 60% of USDT, USDC, and other stablecoin transactions. Users need to pay ETH as Gas fees, driving ETH demand.
DeFi TVL (Total Value Locked) exceeds $100 billion, indicating extremely high ecological activity and continued growth in smart contract usage.
Market impact: As long as DeFi and stablecoin demand remain strong, the fundamental support for ETH is robust, and the long-term bullish logic remains unchanged.
These data are telling us: ETH supply is being locked, demand is growing, and the price support is getting 'harder' below.
Old Fu's viewpoint is clear: ETH has not finished its journey, the real surge is still brewing. This wave is a process of oscillation and cleaning out, as well as a process of smart capital accumulating. Don't just look at the current 'floating losses' and 'dumping', look on-chain, the direction is actually very clear. Genius traders are just smart people who can read signals, follow me for daily strategies to get on board in advance. Old Chen's articles do not boast, do not paint cakes, only teach you practical survival skills.#加密市场反弹