Summary
TLDR: Crypto whales are accumulating Ethereum despite uncertainty around ETF approvals. Two prominent wallets withdrew over $205 million worth of Ethereum in just a few days, suggesting a bullish sentiment. If Ethereum breaks through the critical neckline of $3,678, it could potentially surge by 22% to $4,400. However, resistance may be faced near $4,100. The deadline for VanEck’s spot Ethereum ETF application is approaching, with skepticism around approval. The SEC’s decision on Ethereum ETFs remains a key factor influencing the cryptocurrency’s price trajectory.
Key Points
1. Crypto whales are aggressively accumulating Ethereum despite uncertainty around ETF approvals, indicating a bullish sentiment among major investors.
2. Significant transactions by prominent wallets, such as 0xACc and 0x435, withdrawing millions worth of Ethereum from exchanges have been highlighted by on-chain analytical platforms Lookonchain and Spot On Chain.
3. The aggressive accumulation of Ethereum by crypto whales, totaling approximately $205 million in withdrawals over a few days, suggests a strong belief in the asset’s value, despite regulatory hurdles and looming ETF approval decisions.