With whale accumulation, positive funding rates, and enhanced trader confidence, Ethereum's price approaches $5,000.

Key Points

Ethereum whales continue to accumulate massively, with prices slightly below $5,000. Positive funding rates and the dominance of longs suggest sustained bullish momentum.

Since July, Ethereum [ETH] has attracted continued accumulation from whales, with a surge in order demand on Binance, showing a consistent upward trend.

These large investors tend to confirm trends rather than speculate in advance, indicating strong belief behind the recent rise.

Whale-related spot and futures orders continue to flood in, with ETH trading slightly below $5,000. The influx of these funds highlights institutional investor support and suggests that market momentum may persist as demand strengthens in this area.

Are long positions dominating on Binance?

The proportion of long accounts on Binance has climbed to 57.06%, while the proportion of short accounts stands at 42.94%, with a long/short ratio of 1.33.

The clear advantage of long accounts reflects traders' increasing confidence in Ethereum's short-term rise.

Additionally, the ratio rebounded after a brief drop at the beginning of August, indicating that traders are once again leaning bullish.

However, if market sentiment reverses, this position configuration could expose the market to the risk of a sudden correction. Investors must remain vigilant about potential short squeeze risks.

Does the positive funding rate confirm strong belief?

The funding rate on the Binance platform remains positive, hovering around 0.005%. This indicates that traders are willing to pay fees to hold long positions in ETH perpetual contracts.

While a positive funding rate suggests optimism, it also reflects an increase in leverage. Long-term positive rates sometimes indicate an overheated market.

That said, the current moderate levels seem sustainable, indicating that ETH continues to enjoy leveraged support without dangerous imbalances.

Can MVRV and S2F further strengthen their power?

Ethereum's MVRV long/short gap has soared to 31.49%, while the stock-to-flow ratio has rebounded to 19.77%.

Taken together, these indicators highlight the conditions of profitability and supply tightness, which historically have often signaled a stronger market rebound.

Thus, the combination of MVRV and S2F paints a bullish picture.

However, despite both indicators supporting a potential breakout, market conditions remain sensitive to sudden liquidity changes.

Will Ethereum break through $5,000?

Ethereum's whale accumulation, bullish long/short ratio, positive funding rates, and supportive MVRV and S2F readings all align with a market ready to continue evolving.

Therefore, as long as whale demand remains and leveraged positions are balanced, the likelihood of Ethereum breaking through $5,000 is high.