Ethereum: The triple threat!
Ethereum’s climb past $4,000 is backed by big data.
The Spot Taker CVD showed consistent taker buy dominance through June to August, driving a $2K-to-$4K surge and showing strong spot accumulation rather than short-term chasing.
Source: CryptoQuant
Open Interest has risen in tandem with price, hitting $29B – near historical highs. Fresh capital is entering, with institutions driving momentum.
Source: CryptoQuant
Meanwhile, ETH Exchange Reserves have plunged to 18.38 million, a 12-month low, at press time. The supply crunch, paired with demand spikes, has set up a classic squeeze scenario.
Source: CryptoQuant
This strengthens the case for continued upside.
Big buyers back the ETH rally
Adding to Ethereum’s bullish setup, large-scale buyers are stepping in aggressively.
Just as spot demand and supply squeeze align, President Trump has purchased 1,911 ETH worth $8.6 million!
Source: X
At the time of writing, mining firm Bitmine Immersion Technologies [BNMR] also ramped up its holdings, buying 106,485 ETH (over $470 million) in the last 10 hours alone.
Source: X
Its total stash now stands at 1.29 million ETH, valued at $5.75 billion.
Meanwhile, an unknown institution quietly withdrew 92,899 ETH ($412 million) from Kraken over the past four days via three fresh wallets!
Momentum cools, but structure remains intact
At press time, Ethereum was trading at $4,428 after a brief pullback from its recent highs. The RSI hovered around 67, just below overbought territory, indicating cooling momentum but no reversal.
Source: TradingView
Meanwhile, the MACD remained in bullish alignment, with both the MACD and signal lines trending upward. Despite three consecutive red candles, volume was declining – a sign of consolidation.
As long as key momentum indicators stay positive, ETH’s structure remains bullish, with dips likely to be absorbed by ongoing institutional accumulation and spot demand.
