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ETH Ethereum price volatility intensifies, and large companies continue to increase their holdings
During the volatile trading session, Ethereum price has fallen 3.6% in the past 24 hours and is currently hovering around US$1823. The digital asset encountered strong resistance after climbing to $1944 and eventually fell back to its current price. This fluctuation has attracted market attention and controversy, especially in the context of recent changes in the market landscape.
Who are the drivers of these big purchases?
Lookonchain's latest blockchain data analysis shows that despite price fluctuations, large households continue to attract large-scale financing. It is worth noting that the two new wallets extracted a total of 20,000 Ethereum pieces (worth more than $37 million) from Coinbase Prime. Previously, the same entity had purchased 30,000 Ethereum pieces, with a cumulative position value of approximately US$165 million. This kind of whale level operation suggests a strategic layout, even if the market faces short-term challenges.
How do market indicators react?
Market analysis presents complex signals. CryptoQuant's average spot order size shows significant whale activity over the past seven days, while CoinGlass data points to a decline in net spot traffic to Ethereum. Although the pace of outflows has slowed from the previous day's high, there is still a significant net outflow of $23.6 million, indicating that investors are withdrawing assets from exchanges at varying scales.
At the same time, institutional interest in Ethereum-related ETFs has shown a positive trend. Spot ETFs listed in the United States had a net inflow of US$68 million in a week, attracting market attention. However, network indicators have diverged: the number of active addresses has dropped, but daily transaction volume has increased, suggesting that online applications remain active despite reduced user engagement.
The net inflow of the Ethereum ETF reached US$68 million from Monday to Thursday.
Active Internet addresses fell to an average of 397,000 on the 14th.
The peak daily transaction volume reached 2.65 million, setting a record high.
The number of ethereum pledged reached a new record of 40.93 million, of which BitMine Immersion contributed significantly.
Technical indicators send contradictory signals: the energy surge indicator fell sharply, indicating that sellers have an advantage in the near future. However, Ethereum prices remain stable above the short-term moving average.
Ethereum maintains a new upward trend, transforming previous resistance levels into support levels. As long as core support is solid, the possibility of exceeding $2000 is increasing.
Optimistic forecasts from senior traders indicate that if support levels are effectively confirmed, Ethereum is expected to break through higher prices. The recent open position data totaling US$91.4 million highlights market volatility, mainly affecting long positions. These developments have laid a fascinating foundation for future market trends.
