Key Highlights
- Major Ethereum holders added approximately 700K ETH during a four-day period from Thursday through Monday
- Spot Ethereum ETFs witnessed an unbroken streak of eight days with combined net inflows reaching $493.7 million
- Bitmine acquired 101,627 ETH in their most significant weekly purchase of 2026
- The SuperTrend technical indicator switched to bullish territory for the first time since the beginning of 2025
- Persistent negative funding rates over six consecutive days contributed to ETH declining beneath the $2,400 level
Ethereum currently hovers near the $2,300 price point following a week marked by substantial large-holder accumulation and robust exchange-traded fund activity, despite downward pressure from the derivatives market limiting upside potential.
Addresses containing over 10,000 ETH collectively accumulated close to 700,000 tokens during the four-day window spanning Thursday to Monday, based on information from CryptoQuant. Exchange-held Ethereum reserves have declined by approximately 458,000 ETH since Thursday, indicating strengthening purchase activity.
Institutional participants have joined the buying momentum. United States-based spot Ethereum ETFs posted an uninterrupted eight-day sequence of positive net inflows amounting to $493.7 million, per SoSoValue tracking data.
Bitmine Immersion Technologies executed their largest seven-day Ethereum acquisition in 2026, purchasing 101,627 ETH. This transaction elevated their cumulative position to 4.976 million ETH. According to Bitmine Chairman Tom Lee, historical precedents dating to 2015 suggest the cryptocurrency bear market could conclude sooner than market consensus anticipates.
Lee highlighted that each crypto bear market since 2015 has aligned with equity market corrections exceeding 20%. Given that the 2026 equity pullback measured just 8%, he argued the current downturn might prove briefer than previous cycles.
Smart money monitoring platform Lookonchain identified multiple significant whale movements throughout the week. A freshly established wallet pulled 35,000 ETH from Binance before transferring the assets to custodial service BitGo.
Technical Indicator Switches to Positive Territory
Market analyst Ali Martinez shared on X that Ethereum’s daily SuperTrend technical indicator has transitioned into bullish configuration for the first instance since early 2025. Martinez observed that the previous occurrence of this technical shift preceded an extended upward price movement. He additionally noted that Bitcoin has yet to penetrate its corresponding SuperTrend resistance threshold.
Derivatives Market Maintains Bearish Positioning
Notwithstanding robust spot market demand, Ethereum funding rates remained in negative territory across six consecutive days. This pattern indicates futures market participants maintain bearish positioning, contributing to price retreat below $2,400.
ETH experienced $53.4 million in forced liquidations over the past 24-hour period. Long position closures dominated at $28.4 million.
Analyzing the four-hour timeframe, ETH trades above its 20-, 50-, and 100-period exponential moving averages, which cluster between $2,268 and $2,323. Immediate resistance emerges at $2,388, while support levels form at $2,267 and $2,263.
The 14-day Relative Strength Index registers at 55, reflecting buyer dominance over sellers. Conversely, both the 9-day Stochastic and 14-day Stochastic RSI hover near 40, suggesting diminishing upward momentum.
ETH appreciated from approximately $2,155 to exceed $2,320 during the preceding 30-day period but has retreated roughly 2% on the seven-day chart from a peak of $2,450.
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