Ethereum Surpasses Multi-Year Accumulation High Amid Persistent Price Pressure

crypthub

about 4 hours ago

Ethereum Price Movement and Accumulation

Ethereum briefly rose above $2,000 but faced resistance, retreating to $1,900. Despite falling prices, renewed investor accumulation has reached historic levels. On-chain data shows increased buying pressure, with analysts noting one of the strongest accumulation phases in years. Long-term investors are positioning during weakness, showing confidence in Ethereum’s future despite short-term declines.

On-Chain Activity and Capital Flow

Newly created wallets saw $490.9 million in inflows, 2.4x above average, while whale wallets recorded $39.2 million, 30.7x above average. Exchange outflows of $56.9 million indicate bullish sentiment. These flows highlight significant accumulation activity, with large investors actively buying ETH amid market turbulence. Bitcoin’s accumulation lags behind Ethereum’s, suggesting capital rotation toward altcoins.

Whale Behavior and Market Outlook

Whales are quietly purchasing ETH in volatile markets, focusing on futures positioning. Ethereum’s price fell 1% to $1,957, with trading volume dropping 11%. Analysts suggest the current accumulation pattern may signal a potential short-term structural move. Long-term conviction remains strong, despite immediate price pressures, indicating a pivotal moment for Ethereum’s future trajectory.