Institutional interest in Ethereum is demonstrably increasing, as evidenced by Bitmine's recent acquisition of over $470 million in ETH within the past 10 hours, coupled with strong ETF trading activity and continued ecosystem development.
Conversely, the token is encountering selling pressure from significant whale profit-taking, including a $33.25 million sale from an Ethereum Foundation-affiliated wallet, further complicated by macroeconomic headwinds stemming from a higher-than-anticipated PPI report.
From a technical perspective, ETH exhibits a bullish MACD crossover and a recovery from oversold RSI levels, indicating diminishing bearish momentum, notwithstanding short-term bearish trends observed in the EMA indicators.
