➡️ Eyes on $ETH – Is $5K Still in Play?

ETH just took a sharp hit, with nearly $900M liquidated as whales sold into strength to lock in profits. After rejecting around $4,950, it slid to the low $4,300s, struggling below key 1-hour EMAs near $4,426. Short-term momentum is weak.

However, the bigger picture looks promising. ETH ETFs are seeing higher inflows than Bitcoin ETFs, institutions are stacking — BitMine Immersion now holds 1.71M ETH, the largest treasury globally. ETHZilla kicked off a $250M buyback, doubling exposure during the dip. On-chain metrics show ETH in the “belief phase,” historically a precursor to parabolic moves.

So is $5K dead? Not at all. Short-term whales have cashed out and rate-cut hints shook markets, but long-term conviction remains strong. ETFs, treasuries, and whales continue accumulating.

$5K isn’t gone — it’s just taking its time. Patience beats chasing leverage here.