Historic Surge in Institutional Interest for Ethereum Could Propel Prices Toward a Bullish Run to $11K
Ethereum, the second-largest cryptocurrency by market capitalisation, is currently consolidating near the $4,500 zone, according to recent data. This consolidation comes as bulls watch for a close above the $4,600-$4,800 range to confirm momentum towards the $5,000 mark and beyond.
A breakout above this resistance range could pave the way for Ethereum's next major rally attempt, as analysts predict a potential path for Ethereum to reach $11,000 if institutional demand, ETF inflows, and on-chain activity continue to strengthen.
However, Ethereum faces resistance between $4,800 and $5,000, while support holds near $4,400. These levels are pivotal for shaping Ethereum's medium-term trajectory. Holding the $4,500 zone could lead to another push toward the $4,600-$4,800 resistance range.
The trading volume of Ethereum is over $24.4 billion, indicating a significant level of interest in the cryptocurrency. Notably, the institution holding the largest share of Ethereum among publicly traded firms is not explicitly mentioned in the available search results. However, generally, institutions like exchanges and financial services companies often hold significant portions of cryptocurrencies like Ethereum.
Cumulative Ethereum ETF inflows have surpassed $13.3 billion, a testament to growing institutional interest. Last week, Ethereum ETFs saw $638 million in net inflows, marking the fourth consecutive week of gains. BitMine Immersion Technologies, the world's largest publicly traded holder of ETH, currently holds over 2.15 million ETH, worth approximately $9.97 billion at current prices.
BitMine aims to acquire 5% of Ethereum's total supply, a vision known as the 'Alchemy of 5%'. This aggressive acquisition strategy could further boost Ethereum's value and institutional appeal.
Staking has become a cornerstone of Ethereum's investment case, ensuring that large amounts of ETH remain locked within the network. More than 28 million ETH is now staked, reducing liquid supply and signaling confidence from long-term holders.
Network activity is expanding, with higher transaction counts and stronger usage of decentralized applications. This increased activity suggests a growing ecosystem and increasing utility for Ethereum.
Despite short-term fluctuations, Ethereum's bullish outlook is reinforced. The $4,500 zone remains a critical support level, with deeper supports forming below $4,300. A break above the $4,600-$4,800 range could signal a positive trend for Ethereum in the coming weeks. The current ETH price is $4,509. Analysts view the $4,500 zone as a crucial pivot point.
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