Ethereum has just crossed the $3000 mark, indicating a bullish trend driven by institutional influx, DeFi resurgence, and strong technical signals. Will this momentum propel ETH to new heights, or is it a temporary rally? Market data reveals the answer.
Spot Ethereum exchange-traded funds have recorded their fourth consecutive day of net inflows. This performance contrasts sharply with the massive outflows observed at the start of the year. The ETFs have collected several tens of millions of dollars during this period, restoring confidence among institutional investors who had significantly reduced their exposure.
This resumption of flows comes amid a more favorable macroeconomic context for risk assets. Expectations of a less restrictive monetary policy from the Fed have contributed to improving market sentiment. Institutional products like ETFs directly benefit from this shift in risk appetite.
Asset managers note that investors are looking to reposition themselves on Ethereum ahead of potential major announcements concerning network upgrades. The ETH/BTC ratio also shows signs of stabilization around 0.025, suggesting that Ethereum is beginning to catch up with Bitcoin.
On-chain data reveals a particularly pronounced accumulation pattern among large addresses. More than 150,000 ETH have been withdrawn from exchanges over the past seven days. This is an indicator generally interpreted as bullish since it reduces the available selling pressure on the market.
Whales are not just buying; they are moving their holdings to cold storage solutions, signaling an intention to hold for the medium or long term. This strategy contrasts sharply with the behavior observed in January, when flows to exchanges were predominantly oriented toward selling.
Address cluster analysis shows that this accumulation comes from both historical actors reinforcing their positions and new whales entering the market. The number of addresses holding more than 10,000 ETH has increased by 2% over the month, confirming this renewed interest from large holders in the asset.
Ethereum’s technical structure is gradually improving after consolidation in recent weeks. The break above $3,000 comes with an RSI at 58, leaving room before entering overbought territory. The 50 and 200-day moving averages are approaching a potential golden cross that could catalyze a more pronounced bullish movement.
Volume remains the factor to watch. If the 40% increase observed continues beyond 48 hours, the probability of testing resistance at $3,200 increases significantly. Conversely, a return below $2,950 with low volumes would invalidate this short-term bullish scenario.
Options traders are currently positioning their strikes around $3,500 for the March expiration, suggesting optimistic but measured expectations. The derivatives market shows a slightly positive funding rate without excess, a sign of controlled optimism rather than euphoria that could trigger a brutal liquidation.
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