Sky Victor

08/29 08:36

Institutional Buying Intensifies as Ethereum Targe

Institutional Buying Intensifies as Ethereum Targets ATH

Spot accumulation is key here, and the smart money is clearly betting on Ethereum.

ETH has seen $900 million in net inflows through spot ETFs over the past week. At $4,780, this equates to about 188,000 ETH bought by institutions. At the same time, new supply was only 17,800 ETH.

This means that ETF demand was more than 10 times higher than new supply. From a technical perspective, this creates a solid base for accumulation, which reinforces the idea that a local bottom may be forming.

In other words, Ethereum could be on track to test a new ATH before the end of Q3.

 With cool technicals, a clear bullish structure and a strong buy wall around $4,300, the current situation seems to point to a breakout above $5,000. This would give the bulls room to confidently enter the opening price zone.

#HTX 12th-Anniversary Carnival#HTX community ✖ SUNPUMP Creator Championship#Claim1,200 USDT in the Monthly Creation Challenge

1Share