Ethereum price struggles at $2,600, but ETF inflows and whale accumulation could signal a bullish breakout.
By Vishal Dixit
Edited by Julia Sakovich
Updated
3 mins read
With the recent pullback in the crypto market over the past 24 hours, Ethereum ETH $2 062 24h volatility: 0.2% Market cap: $248.67 B Vol. 24h: $11.97 B is now down at a crucial crossroads. Struggling to sustain dominance above its $2,600 level, the unwavering institutional support for Ethereum continues to grow.
While the possibility of a downfall increases, institutions continue to accumulate ETH at discounted prices. Will this rising demand eventually drive a bull run in Ethereum prices?
On February 11, the US Ethereum spot ETFs recorded a daily net inflow of $12.5 million. While the majority of the Ethereum ETFs stood on the sidelines with a net zero flow, BlackRock continues to showcase its support for Ethereum.
On February 11, BlackRock acquired $12.5 million to bring its net assets to $3.53 billion. Since its inception, the Ethereum ETF has registered a cumulative net inflow of $4.44 billion.
This reflects the massive support of BlackRock towards the biggest altcoin.
In addition to BlackRock, Donald Trump’s World Liberty Financial has recently made another Ethereum buying move. Recently, Trump’s World Liberty Financial has spent 5 million USDC coins USDC $1.00 24h volatility: 0.0% Market cap: $60.17 B Vol. 24h: $5.47 B to purchase 1,917 ETH tokens.
World Liberty Financial (@worldlibertyfi) continues accumulating $ETH and $MOVE!
4 hours ago, the fund spent 5M $USDC to buy 1,917 $ETH and 470K $USDC to acquire 830,469 $MOVE.
Over the past 2 days, it has spent $940K USDC in total to buy 1.634M $MOVE at an average price of… https://t.co/ee0rgXkduK pic.twitter.com/KVHfUWeg1j
— Spot On Chain (@spotonchain) February 12, 2025
Along with Ethereum, the fund has also spent 470,000 USDC to purchase MOVE tokens MOVE $0.57 24h volatility: 32.0% Market cap: $1.39 B Vol. 24h: $824.49 M . Over the past two days, the fund has spent 940,000 USDC to purchase a total of 1.634 million MOVE tokens.
Apart from the recent interest in MOVE, Trump Liberty Finance holds a total of $48.43 million worth of ETH, amounting to 18.53K ETH tokens. Beyond the ETFs and big financial firms, crypto whales have also increased their interest.
In a recent X post, Ali Martinez, a crypto analyst, highlighted that Ethereum whales over the past week have accumulated 600,000 ETH. This is highlighted in the recent sentiment data of Ethereum balance by holder value.
Whales have bought over 600,000 #Ethereum $ETH in the past week! pic.twitter.com/y736DxlGSP
— Ali (@ali_charts) February 12, 2025
Between February 2 and February 9, the balance of whales holding 10,000 to 100,000 ETH tokens has increased from 16.31 million to 16.98 million. This highlights a surge of 4.1% over the past week.
Furthermore, crypto exchanges have witnessed a massive outflow of Ethereum supply. In the past week, more than a million ETH tokens have exited the exchanges, signaling increased accumulation by holders. This could lead to a significant reduction in selling pressure.
More than 1 million #Ethereum $ETH have been withdrawn from exchanges in the past week, signaling increased accumulation and reduced sell pressure, as shown by data from @santimentfeed! pic.twitter.com/1r5sZXmYFP
— Ali (@ali_charts) February 11, 2025
Thus, the landscape is gradually turning favorable for an Ethereum bull run.
From a technical viewpoint, Ted Pillows, a crypto enthusiast, has shared a recent analysis of the ETH price trend. As ETH prices return to their weekly support trendline, the chances of a bullish comeback are at a crossroads.
Ethereum Price Chart
The $2.1K candle with a massive low price rejection was an alleged capitulation candle, and since then, the prices have stabilized with lower volatility. However, as long as Ethereum sustains dominance above its weekly trendline, the possibility of a bullish comeback remains on the chart.
Furthermore, the price chart shared by Ted Pillows forms an ascending triangle pattern with the overhead resistance near the $4,000 mark. Hence, a positive cycle within the triangle will likely lead ETH into the overhead supply zone.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Vishal, a Bachelor of Science graduate, began his journey in the crypto space during the 2021 bull run and has since navigated the subsequent market winter. With a strong technical background, he is dedicated to delivering insightful articles rich in technical details, empowering readers to make well-informed decisions.
