Ethereum Approaches Key Breakthrough: Whales Accumulate, ETF Attracts $5 Billion

Ethereum (ETH) is reaching an important moment in its tenth anniversary, with prices continuing to rise and multiple indicators suggesting it may be approaching a significant breakthrough.

Currently, the trading price of ETH is approximately $3,800, still 24% lower than its historical peak in 2021. However, according to CryptoQuant analyst CoinCare, the funding rate in the futures market remains sluggish, indicating that the upward trend is far from over.

Whales Continue to Buy, ETF Attracts Record Fund Inflows

In the past 48 hours, large investors have purchased 220,000 ETH, valued at approximately $850 million, increasing their holding ratio to 23.5% of the total supply, setting a new historical high. This phenomenon may reduce market liquidity and drive prices higher.

Meanwhile, the U.S. spot Ethereum ETF has attracted approximately $5 billion in just 17 trading days, showing rapid growth in institutional demand.

The amount of coins held on exchanges has also significantly decreased, with only 19 million ETH remaining, close to a ten-year low. Over the past month, more than 1 million ETH have been withdrawn from exchanges, further alleviating market selling pressure.

Technical Analysis and Key Price Levels

ETH has risen 1.7% in the past 24 hours, 7.9% in the past week, and has accumulated a 57% gain over the past 30 days.

Current prices fluctuate between $3,708 and $3,874, with the next key resistance level at $4,000 and an important short-term support level at $3,500.

Analyst Ali Martinez believes that if ETH breaks through $4,100, it will trigger a “real breakthrough,” potentially challenging its historical peak close to $4,900 again.

Despite the short-term overbought risk (as indicated by a high RSI), and the possibility of a pullback to $3,300, on-chain data remains strongly bullish. If CoinCare's assessment of the funding rate is correct and institutional funds continue to flow in, ETH may be at a critical moment for setting a new high.