Ethereum (ETH) Whales Accumulate 260K Tokens as ETF Inflows Continue Strong Rally

Key Highlights

• ETH maintains position around $2,680 with a 0.40% gain in the last 24 hours
• Major holders controlling 10K-100K ETH accumulated 260K tokens starting Saturday, reversing prior week’s selling trend
• Spot Ethereum ETFs in the US recorded their fourth consecutive session of positive net flows totaling $104.6 million
• BlackRock’s ETHA product dominated with $50.8 million in inflows on September 23
• Critical support zone between $2,560-$2,600 faces retest after converting from resistance

Ethereum currently sits at $2,680, marking a 0.40% increase during the previous 24-hour period. The digital asset maintains a market capitalization of approximately $328 billion.

Ethereum (ETH) Price

Major Ethereum holders have shifted back into accumulation mode. According to CryptoQuant analytics, addresses containing between 10,000 and 100,000 ETH have acquired 260,000 tokens beginning Saturday.

This accumulation represents a sharp reversal from recent activity. The identical cohort of large holders had previously disposed of 140,000 ETH across a three-day period following the Senate’s stalling of the Clarity Act.

Mid-tier holders exhibited contrasting patterns. Addresses controlling 1,000 to 10,000 ETH maintained relatively stable positions before executing a modest 50,000 ETH reduction over the most recent 48-hour window.

Those managing between 100 and 1,000 ETH continued their distribution trend. This segment has collectively released approximately 140,000 ETH since the Clarity Act developments emerged.

On-exchange metrics reveal withdrawals exceeding deposits in recent sessions. This pattern indicates certain market participants are accumulating during price weakness while others secure gains.

Institutional Appetite Maintains Momentum

United States-based spot Ethereum exchange-traded funds recorded their fourth consecutive session of positive net capital flows. Wednesday’s aggregate figure reached $104.6 million.

BlackRock’s ETHA product dominated institutional demand, capturing $50.8 million. This represents approximately half of the total daily inflow volume.

Fidelity’s FETH product followed closely, securing $41.3 million during the identical trading session.

Market analyst Ted, recognized on social platforms as @TedPillows, offered perspective on current market dynamics. He noted ETH is experiencing a minor pullback and anticipates a retest around $2,550 before resuming upward momentum.

Critical Price Level Under Examination

Another market observer operating under the handle BATMAN highlighted the $2,560-$2,600 band as a crucial technical zone for ETH. This region previously functioned as overhead resistance and has undergone multiple support validation tests.

Should ETH successfully defend this zone during corrective price action, it would validate the transformation from resistance to support. The 200-day exponential moving average hovers nearby at approximately $2,460, providing traders with an additional reference point.

From a technical perspective, ETH currently trades above the median Bollinger Band positioned at $2,547.65. The upper band extends to $2,767.17.

The MACD indicator registers at 96.50, positioned above its signal line at 86.47. The histogram displays a positive reading of 10.02, although the separation between lines remains relatively narrow.

Coinglass metrics indicate $74.5 million in forced liquidations throughout the past 24 hours. Long position liquidations accounted for $44.4 million of that volume.

Overhead resistance markers beyond current pricing include $2,786 and $2,894, with an additional obstacle positioned at $3,177.

Regarding broader market conditions, Brent crude oil advanced nearly 3% Thursday following the collapse of US-Iran diplomatic discussions. The United States 10-year Treasury yield surpassed 5.15%, reaching its most elevated point since June 2007.

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