Ethereum has bounced back above the $3,000 mark after several weeks of heavy selling, supported by renewed ETF inflows, increasing whale accumulation, and improving signs on the technical chart. ETH is currently trading around $3,037, up 3.5% in the past 24 hours, recovering from a month-long drop that pushed the asset nearly 40% lower.
While 24-hour spot trading volume dipped slightly to $21 billion, derivatives metrics tell a different story. CoinGlass data shows that futures volume slid 10% to $76 billion, but open interest rose by 6.59% to $37 billion. Rising open interest during a price rebound often signals traders opening new positionsa sign of emerging confidence rather than liquidation.
Spot ETH ETFs Continue Strong Inflows
Ethereum’s recovery is also being strengthened by consistent inflows into spot ETH ETFs. U.S.-listed funds recorded $78 million in net inflows, marking the fourth consecutive day of positive flows. Total cumulative inflows across all ETFs now exceed $12 billion, according to SoSoValue.
Every dollar flowing into a spot ETF requires issuers to purchase real ETH, helping tighten supply and support price stability in a volatile market.
Institutions and Whales Quietly Accumulate
Institutional interest isn’t limited to ETFs. Tom Lee’s BitMine added 69,822 ETH last week worth nearly $197 million bringing its total holdings to 3.63 million ETH, valued above $10 billion.
On-chain data also shows that Ethereum whales are accumulating at record pace. CryptoQuant contributor Arab Chain reported that wallets holding 10,000–100,000 ETH now hold more than 21 million ETH, the highest ever. Meanwhile, the largest whale bracket those holding over 100,000 ETH accumulated 4.3 million ETH in recent months.
At the same time, Binance’s ETH reserves have dropped to 3.76 million, suggesting coins are moving off exchanges into long-term storage, staking, or institutional custody all of which reduce sell-side pressure.
Technical Indicators Point to Early Reversal Signs
Ethereum’s chart shows ETH lifting itself out of a prolonged downtrend. After hovering near the lower Bollinger Band for weeks a zone that often represents seller exhaustion ETH is now pushing toward the middle band.
Momentum indicators are also turning positive:
- RSI has climbed to 41.9, moving out of oversold territory
- MACD has flipped into a mild buy signal
- 10-day moving averages have turned bullish, while longer-term averages (20–200 day) remain bearish a common pattern during early recovery phases
If bulls can maintain price above $3,000, ETH may target the $3,115–$3,250 resistance zone next. Falling below $3,000 again could send price back toward $2,850, where buyers recently stepped in.
With rising ETF demand, increasing whale buying, and early signs of a technical recovery, Ethereum appears to be entering a stabilizing phase after weeks of volatility.
