Accumulation of Whales and Increased ETF Flows Support Bullish Trend for ETH Price
Ethereum is once again in the spotlight as various market factors converge to influence its near-term price action, including technical indicators, institutional ETF inflows, and the accumulation of large holders.
Recent price movements of Ethereum have shown the asset stabilizing above crucial support levels following a period of volatile trading. Examination of on-chain transactions, derivatives exposure, and trading volume patterns suggests that downward pressure may have alleviated, setting the stage for a potential upward movement if these support levels hold.
One notable technical indicator attracting attention is the “golden signal,” developed by Bryant, which monitors changes in the volume of large holders in relation to price. This metric aims to signal when whales, who hold significant amounts of ETH, are accumulating in a manner that historically precedes shifts in trend.
According to Bryant, the recent activation of the “golden signal” suggests whale accumulation, although sustained gains may require increased institutional involvement. Publicly available on-chain data indicates that large ETH holders around the $3,000 level have been consistently increasing their holdings, implying that recent price drops have been absorbed rather than prompting widespread sell-offs, indicating a defensive accumulation approach rather than speculation.
Institutional interest, especially through Ethereum ETFs, has also seen a change recently. Data from CoinMarketCap reveals that spot Ethereum ETFs experienced more than $250 million in net inflows in the past week, reversing previous outflows. The influx of funds from ETFs can boost spot demand, although its impact hinges on broader market conditions, such as derivatives hedging and risk sentiment.
Analyzing the combined inflow of ETFs and on-chain accumulation shows strong buying interest near the $3,100 mark, which may support short-term price stability. However, it’s essential to note that inflows alone do not ensure sustained price growth, and investors should keep an eye on liquidity trends and market depth.
On-chain analysis shows that wallets holding between 10,000 and 100,000 ETH have increased their net holdings by roughly 800,000 ETH over the past month, valued at nearly $2.4 billion at an average entry price around $3,100. In the derivatives market, significant leveraged positions indicate confidence in the defended support levels, reinforcing the accumulation trend.
From a technical standpoint, Ethereum remains within an ascending channel with higher lows and continual defenses around $2,800–$2,900. While a potential bearish pattern has been identified on the 12-hour chart, indicating a move towards $2,400 if the $3,100 support fails, the accumulation by large holders may counteract some of this downside risk.
Overall, Ethereum’s price is currently range-bound within the channel, with a sustained break above $3,300 signaling a potential continuation of the recent upward trend. As market forces continue to evolve, monitoring key indicators such as whale accumulation, institutional participation, and technical patterns will be essential for gauging Ethereum’s price trajectory in the near future.
