Ethereum (ETH) Price: ETH Up 41% From Lows — And Whales Are Still Buying

TLDR

• An Ethereum whale opened a $90.8M leveraged long position at 20x on ETH
• A second whale opened a $61M long position at $2,303 on HyperLiquid
• Spot ETH ETFs recorded seven straight days of net inflows totaling $426M
• BitMine bought 101,627 ETH last week, lifting holdings to 4.97 million ETH
• ETH’s ascending triangle pattern targets a breakout toward $3,230

Ethereum is trading around $2,310 after pulling back from the $2,400 level over the weekend. The price is up over 7% in the past 30 days and around 41% from its February low of $1,750.

Two large ETH positions have drawn attention from traders. One whale opened a $90.8 million long with 20x leverage. Analyst TAnotepad also flagged a second whale, wallet 0x6C851, who opened a $61 million ETH long at 20x leverage with an entry near $2,303 on HyperLiquid.

The Fear and Greed Index has moved from 5 — Extreme Fear — two months ago to 54 today. That puts market sentiment in neutral territory.

ETF Inflows Hit Multi-Week Highs

Spot Ethereum ETFs have posted net inflows for seven straight days, bringing in $426 million during that stretch. Weekly inflows hit $275.83 million, the largest since January, according to SoSoValue.

Global crypto ETP inflows hit $1.4 billion last week, the highest since January, per CoinShares. Head of Research James Butterfill linked the move to improving risk appetite tied to US-Iran ceasefire talks and Bitcoin breaking above $76,000.

BitMine Raises Holdings to 4.97 Million ETH

Treasury firm BitMine Immersion Technologies bought 101,627 ETH last week, its largest weekly purchase since mid-December. That puts total holdings at 4.97 million ETH, worth roughly $11.44 billion.

BitMine Chairman Thomas Lee said the crypto winter is nearing its end. He pointed out that ETH has outperformed the S&P 500 by 2,280 basis points since the war started. Lee added that previous crypto winters coincided with equity drawdowns of at least 20%, while the current equity decline sits at just 8%.

BitMine also reported staking 3.33 million ETH, generating $221 million in annualized staking revenue.

Ethereum’s daily chart shows an ascending triangle pattern. A break above $2,400 would target $3,230, a move of over 41% from current levels. The RSI sits near 55, and the Stochastic Oscillator is around 61.

Key support sits at the 20-day EMA near $2,252 and the 50-day EMA at $2,211. ETH saw $144.4 million in futures liquidations in the past 24 hours, with $101.1 million from long positions.

The $2,300 level is being watched as the key near-term support, with $2,400 as the resistance to break.

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