Ethereum Holds Above $2,400 as Whale Buying and ETF Inflows Surge 6.84%

Ethereum’s price action above the critical $2,400 mark signals a potential bullish reversal, attracting significant attention from crypto investors and analysts alike. Recent whale activity and sustained inflows into Ether spot ETFs underscore growing institutional confidence amid a historically weak third quarter for ETH. Crypto analyst Michaël van de Poppe highlights that Ether is “likely going to be testing the other side of the range in the coming weeks,” signaling a pivotal moment for ETH’s trajectory.

Ethereum has demonstrated resilience by maintaining its price above the key $2,400 support level, a threshold that market participants are closely monitoring. Despite a recent decline over the past month, ETH’s ability to sustain above this critical support suggests underlying strength. The price volatility experienced after geopolitical tensions briefly disrupted markets, but ETH’s recovery attempts highlight investor optimism. This price behavior is crucial as it may set the stage for a sustained upward movement, especially if the asset can reclaim momentum above recent highs.

Institutional investors and large holders have notably increased their exposure to Ether, signaling confidence in its medium-term prospects. Whales acquired approximately 1 million ETH on June 16, marking the largest single-day purchase since 2018. This significant accumulation coincides with robust inflows into spot Ether ETFs, which have seen a three-day total of $232.4 million, including $60.4 million added on June 21 alone. These inflows represent a strong vote of confidence from both institutional and retail investors, suggesting that market participants are positioning for a potential price appreciation. The sustained ETF inflows, coupled with whale buying, provide a bullish foundation that could support ETH’s price stability and growth.

The ETH/BTC ratio, a key metric for assessing Ether’s strength relative to Bitcoin, has experienced a decline of approximately 6.84% over the past month. While a falling ratio often indicates Bitcoin dominance, this dynamic is critical for traders and investors who track relative performance to optimize portfolio allocations between these two leading cryptocurrencies. A reversal in the ETH/BTC ratio could signal a shift in market sentiment, potentially driving increased demand for Ether.

Despite the positive outlook for Ethereum, the broader altcoin market may experience a more subdued rally compared to previous cycles. Analysts note a growing optimism toward Ethereum itself, which has been “playing catch-up” since mid-April’s market recovery. However, investors are advised to exercise selectivity, focusing on high-quality altcoins rather than expecting a broad-based surge. This tempered outlook underscores the importance of strategic asset selection and risk management in navigating the evolving crypto landscape.

Ethereum’s ability to hold above the $2,400 support level, combined with significant whale accumulation and strong ETF inflows, positions it for a potential bullish breakout in the near term. While the ETH/BTC ratio hints at an impending reversal favoring Ether, investors should remain cautious as the altcoin season may be less pronounced than in previous years. Overall, Ethereum’s current price dynamics and institutional interest suggest a cautiously optimistic outlook, emphasizing the need for informed decision-making as the market evolves.