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Ethereum climbs back above $3,000 amid ETF demand and whale buying
Ethereum has pushed back above the $3,000 mark, trading around $3,037 after a renewed wave of spot ETF inflows and significant accumulation by large holders. The rebound arrives after a tough month that saw ETH decline nearly 40%, leaving it well below the August all-time high. Still, a combination of ETF-driven purchases, rising open interest in derivatives, and exchange outflows suggests renewed underlying demand is supporting prices.
Market flows and volume trends
While 24-hour on-chain and spot trading volume eased to roughly $21 billion — about 5% lower than the previous day — derivatives metrics painted a more active picture. Futures trading volume slipped near $76 billion, but open interest climbed roughly 6.6% to about $37 billion, indicating traders are adding new positions during the recovery rather than simply closing them.
A rising open interest during a price uptick often signals fresh momentum: participants may be positioning for further gains in ETH or hedging exposure through futures and options.
Spot ETH ETFs continue to create real demand
U.S. spot Ethereum ETFs recorded a fourth consecutive day of net inflows, taking in about $78 million in the latest session and lifting cumulative ETF inflows into double-digit billions. Because spot ETFs must acquire and hold actual ETH to back shares, these persistent inflows translate into direct buy-side pressure in the market, reducing available sell-side liquidity.
Institutional accumulation beyond ETFs has also been meaningful. Large holders and corporate treasuries have been adding to balances, with recent reported buys putting institutional ETH holdings into the multimillion-coin range. These purchases increase long-term demand and can help establish price support during weak market stretches.
Whales, exchange reserves and supply dynamics
On-chain analytics point to continued whale accumulation. Wallets holding between 10,000 and 100,000 ETH have expanded their combined balances to record highs, and the largest buckets — addresses with 100,000+ ETH — added several million coins in recent months. At the same time, centralized exchange reserves, including Binance’s ETH holdings, have declined toward multi-year lows.
Lower exchange inventories often indicate coins are migrating to staking, cold storage, or custodial solutions, which reduces immediate sell-side supply and helps create a firmer price floor when buying re-emerges.
What this means for price action
The confluence of ETF inflows, whale buying and declining exchange balances has helped ETH stabilize above key psychological support at $3,000. If bulls can keep price above that level, technical resistance near $3,115–$3,250 becomes the next plausible upside target. A failure to hold $3,000 might see a re-test of recent buyer interest closer to $2,850.
Technical picture: early signs of a rebound
On daily charts, Ethereum appears to be emerging from a prolonged downtrend. Price has moved off the lower Bollinger Band and is testing the middle band — a common first step after an exhaustion move. Momentum indicators also show tentative improvement: the relative strength index has climbed back toward the low 40s while MACD has crossed into a modest buy zone.
Ethereum daily chart
Short-term moving averages, such as the 10-day, have flipped to a short-term bullish bias, whereas medium to long-term averages (20–200 day) remain tilted lower. That configuration is typical for early reversal attempts, where stabilization precedes a confirmed trend change.
Key crypto keywords to watch
Investors should watch spot ETH ETF inflows, open interest in futures, whale wallet accumulation, exchange reserve trends, and on-chain staking flows. Together, these metrics provide a clearer picture of supply-and-demand dynamics that could determine whether Ethereum’s recovery extends or if sellers regain control.
Takeaway
Ethereum’s move back above $3,000 is being supported by ongoing spot ETF purchases, institutional and whale accumulation, and declining exchange inventories. While short-term technicals are improving, broader moving averages remain bearish — indicating that a sustained rally will require continued demand and confirmation from higher timeframe indicators. For traders and longer-term crypto investors, monitoring ETF flow data, derivatives open interest, and exchange reserve changes will be critical to assessing the next leg for ETH and the broader Ethereum market.
Source: crypto
Comments
Reza
wow didnt expect ETH back over 3k so quick, whales going heavy.. i'm kinda hyped but nervous, might add a small stash, or sell into strength?
mechbyte
is this even true? ETFs buying, whales stacking but open interest rising too.. smells like leverage or real demand, idk. 3k hold is massive, curious
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