Ethereum Whales Buy the Dip as ETF Inflows Return

Ethereum is turning heads as large holders add to their balances while the price trades near $1,963, marking a 4.3 percent gain over the last 24 hours. On chain data shows that wallets holding between 1,000 and 10,000 coins have grown from about 4,750 in June to roughly 4,850. This steady buying near yearly lows stands in sharp contrast to past rallies where whales chased all time highs.

Institutional interest is also showing signs of life after a dry spell. United States spot Ethereum exchange traded funds recently flipped positive after eight straight weeks of net outflows. These funds pulled in $103.9 million in a single week recently, marking three consecutive weeks of green inflows. While the daily numbers are modest compared to past peaks, the shift in momentum has caught the attention of market watchers.

Despite the positive signals from whales and funds, network activity remains quiet. The 14 day moving average of active addresses sits around 400,000, which is well below previous spikes and shows that everyday usage is not yet matching the heavy accumulation. Public sentiment has also turned deeply bearish, though contrarian traders often view widespread pessimism as a bullish sign for a reversal.

Traders are now watching the crucial $2,000 psychological barrier on the daily chart. A solid daily close above that resistance zone could clear the path toward the next major target near $2,438. On the flip side, a rejection at $2,000 could send the price back down to test support levels around $1,754 and $1,600.