Ethereum Primed for ATH Shattering as Whales Gobble Up $1.62B ETH in Single Week

Wall Street’s crypto FOMO just hit ludicrous mode. Institutional players dumped $1.62 billion into ETH last week—the kind of buy pressure that makes previous bull runs look like timid dips.

Why the frenzy? Two words: smart money. While retail traders were busy chasing memecoins, hedge funds spotted ETH’s perfect storm: shrinking supply post-merge, booming L2 adoption, and that sweet, sweet yield from staking. Now the big question isn’t if ETH breaks its ATH, but how fast it’ll double from there.

Of course, the suits will take credit when prices moon—never mind that they’re late to a party decentralized finance built years ago. Just don’t tell them about gas fees.

• Ethereum dips to $4,378 amid $1.62B institutional buying, signaling renewed investor interest.
• Technical analysis shows ETH may rally toward all-time highs if $4,100 support holds.
• ETH futures trading spikes 114%, highlighting short-term market enthusiasm and increased liquidity.

Ethereum sees a major pullback while institutional investors are buying heavily, and analysts forecast a potential upswing if major support holds. At the time of writing, ethereum (ETH) stood at $4,378, down -3.32% over the last 24 hours. The token had a 24-hour trading volume of $103.85 billion and a market capitalization of $522.99 billion.

Ethereum Market Heats Up as Major Investors Take Action

In spite of the slight decline, the Ethereum market is attracting renewed interest from major investors. Well-known crypto analyst Ash Crypto disclosed that TOM LEE’s Bitmine Immersion has launched a massive $1.62 billion ETH buying spree. This significant purchase may influence price movement and renewed buying interest in subsequent sessions.

BREAKING:

TOM LEE’S BITMINE IMMERSION JUST BOUGHT $1.62 BILLION WORTH OF ETHEREUM.

GIGA BULLISH!!!pic.twitter.com/Xgp9liXCkh

Ethereum Set for Bullish Rally if Key Support Holds

At the same time, the analyst, More Crypto Online, highlighted a technical view of ETH’s price movement. He explained that if Ethereum does not slip below the 78.6% retracement level of approximately $4,100, there is room for one more bullish rally. It may take ETH toward an all-time high, completing what he regards as ‘wave 5 to the upside.’

The integration of large-scale investment and technological assistance indicates that ETH may be preparing for a resurgence. Meanwhile, the present decline offers investors an opportunity to enter the market at lower rates.

Ethereum Futures See Big Trading Spike

Ethereum (ETH) futures registered a huge spike in trading activity, with trading volume up 114.57% to $162.77B. The sudden spike indicates investors are flocking to ETH, pushing up liquidity and propelling larger market movements. Gains in trading volume often indicate renewed interest and enthusiasm in the asset.

Nevertheless, open interest dropped -4.31% to $61.94 billion, illustrating that, though there are investors, fewer are opening positions. This suggests that much of it is short-term trading and not long-term positions. When the volume is high and open interest is low, it usually points to fast speculation moving the market.

On the sentiment side, the OI-Weighted funding rate is 0.0080%. When positive, it means that long investors are paying short dealers, indicating a mild bullish bias. Although it is a small percentage, it indicates that more investors expect ETH rates to rise.

ETH futures are experiencing high activity overall. The large spike in volume indicates enthusiasm. However, the decline in open interest and the moderate funding rate suggest the market is bullish but cautious. Investors are undoubtedly active, but the next significant movement will determine if momentum prevails.