Key levels: Resistance at $3,900, support at $3,300 (a break could target a conservative range of $2,560-4,000)

The accumulation of ETH by BlackRock signals a change in the market.

• has invested $1.2 billion (July) + $375 million (August) in ETH, now owning 2.46% of the total supply

• Its ETH-BTC investment ratio is 4.5:1, with the ETH ETF reaching the $10 billion mark

• Regional variations show stronger buying pressure in Asia/Europe (buy-sell indices above 145) compared to America (79.85)

Key factors

• Regulatory clarity: The SEC's stance on staking protocols and the GENIUS law reduces uncertainty in compliance

• Technical advancements: The upcoming Fusaka update promises lower gas fees and better scalability

• On-chain evidence: Over $2 billion in ETH accumulated by whales, with more than 200 new mega whale addresses emerging
$ETH

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