When Ethereum (ETH) broke through the key resistance level of $2,600, the market's pace seemed to accelerate instantly. Investors' attention shifted from Bitcoin to ETH, and analysts' predictions quickly heated up—the $3,000 threshold seems close at hand.
In the context of the overall fluctuating sentiment in the crypto market, ETH's performance is exceptionally strong, becoming one of the few mainstream assets to rise against the trend. What drives this is not just market sentiment, but also the quiet influx of institutional funds and the covert positioning of whale accounts.
ETF capital inflows and whale buying have ignited a new round of market activity.
As of now, ETH has slightly increased by 0.9% in the past 24 hours, priced at $2,640. Over the past week, the price has fluctuated upward between $2,482 and $2,771, with an overall increase of 0.2%. More notably, amidst a 1.9% decline in the entire digital asset market this week, ETH managed a slight increase against the trend.
Looking at a longer cycle, ETH has risen 4.4% in two weeks and surged 46.3% in the past month, significantly outperforming the market.
Market analysis generally believes that strong institutional buying is the driving force behind ETH's recent strong performance. Crypto trader Doctor Profit disclosed that on-chain data shows that large institutions like BlackRock have significantly increased their holdings of ETH recently.
Interestingly, according to crypto investor Kyle Chassé, a single whale wallet purchased over 108,000 ETH in just 24 hours, worth as much as $285 million. Meanwhile, CoinShares data shows that ETH-based investment products have recorded net inflows for six consecutive weeks, accumulating nearly $1.2 billion, marking the strongest inflow record since December 2024.
Such a dense institutional buying rhythm has greatly increased market confidence for ETH to hit $3,000 in the short term. Doctor Profit has clearly pointed out that it is expected to rush towards the $3,000 mark shortly, even setting $4,000 as a potential new high target for 'late summer.' He also specifically mentioned that converting poorly performing assets like XRP into ETH might become a quality arbitrage opportunity at present.
Internal adjustments: Short pain or long benefits?
However, just as market sentiment is high, the Ethereum Foundation has made significant internal structural changes.
The latest announcement reveals that the Ethereum Foundation's development team has initiated a major restructuring and layoffs, focusing on structural issues in scalability, blob space expansion, and user experience. Although these adjustments aim to clear obstacles for future upgrades, they may also add a degree of uncertainty to ETH's price movement in the short term.
Historical experience shows that turmoil within core development teams often triggers short-term investor concerns about project progress, but in the long term, structural optimization can enhance project resilience and scalability, boosting market confidence.
A new wave of altcoin revival? Opportunities may be at hand.
Ethereum's strong rise is instilling confidence in the broader altcoin market. Historical data shows that whenever ETH first breaks through key resistance and starts an upward trend, it leads the entire altcoin sector out of the trough, initiating a new 'altcoin season.'
Combining Mlion.ai's on-chain data and market sentiment tracking, ETH's on-chain activity continues to heat up, with significant increases in the activity of whale and large wallets, indicating that not only retail sentiment is warming, but institutions and large funds are also quietly increasing their positions.
More importantly, Mlion.ai has observed a recent significant increase in social media sentiment indicators regarding ETH and its ecosystem projects, with on-chain trading volume and staking volume rising in tandem, reflecting a scenario highly consistent with previous bull market starts.
For investors, real opportunities often lie in the moments when market sentiment is just warming up and data is gradually improving.
Conclusion
Ethereum is at a new crossroads. Institutional FOMO sentiment is rising, whales are building positions, on-chain data continues to improve, and the $3,000 milestone seems within reach. There may be volatility and uncertainty in the short term, but the long-term trend is quietly shifting.
In such a market environment, accurately grasping data and trends is far more important than blindly chasing after price increases or drops. AI research assistants like Mlion.ai are tools that help investors navigate through emotional fog and precisely identify opportunities. Through deep on-chain data analysis, sentiment tracking, and trend prediction, Mlion.ai provides professional and forward-looking decision support, allowing you to seize opportunities in a complex and ever-changing market.
The future belongs to those who dare to perceive trends and position themselves in advance.
Disclaimer: The above content is for informational sharing only and does not constitute any investment advice!
