Ethereum News Today: Bitcoin Whales Shift Billions to Ethereum—Is a Bull Run Brewing?

Ethereum’s price has recently shown signs of consolidation, with on-chain activity and social metrics suggesting a potential for further gains. As of late August 2025, Ethereum traded near $4,770, having experienced a 1.7% decline in the past 24 hours. However, weekly gains remained close to 10%, and monthly gains hovered near 7%, indicating that the pullback was more of a temporary correction than a reversal of the broader bullish trend. Social media data highlighted Ethereum's strong presence, with the cryptocurrency capturing 13.5% of all crypto-related chatter, according to data from LunarCrush. This level of social dominance often correlates with increased trading activity and could support a potential move toward $6,000.

On-chain indicators further reinforced the possibility of a bullish continuation. Exchange netflows data showed that more than 166,000 ETH had left exchanges on August 24, signaling accumulation rather than panic selling. Positive Chaikin Money Flow (CMF) at 0.15 and a green Bull-Bear Power (BBP) indicator also suggested that buyers remained in control despite the short-term pullback. These metrics, combined with Ethereum's current position just below a key resistance level at $4,950, pointed to a scenario where the coin could see renewed buying pressure if it managed to break through the resistance and continue its upward trajectory.

Derivative data added another layer of insight, showing that over $2.44 billion in short positions were concentrated near the $5,400 level. Should Ethereum push above this threshold, many of these shorts could be forced to close, creating additional buying pressure that might propel the price toward $6,000. On the downside, critical support levels were identified at $4,374 and $3,938. A breakdown below either level could signal a deeper correction and weaken the bullish case. However, as long as the price remained above $4,374, traders continued to view $5,489 as a near-term target and $6,000 as a more ambitious long-term level.

Corporate and institutional accumulation also played a role in the recent price dynamics. BitMine, a leading Ethereum treasury firm, expanded its holdings by acquiring an additional 190,500 ETH, bringing its total Ethereum holdings to over 1.7 million. The firm's chairman, Thomas Lee, reaffirmed a long-term bullish outlook for Ethereum, positioning it as one of the key macro trades for the next decade. Additionally, a Bitcoin whale with over $11.4 billion in BTC moved $2.59 billion into Ethereum, further signaling confidence in the altcoin’s potential. This type of rotation is often seen in the later stages of a crypto bull cycle, according to analysts from Glassnode and QCP.

Despite the accumulation and bullish technical indicators, Ethereum faced immediate bearish pressure from the 14-day Exponential Moving Average (EMA) and the $4,500 level. A sustained close below $4,500 could expose the coin to a test of the $4,100–$4,000 range. However, the current technical setup, including positive CMF and BBP, suggested that the pullback was more of a consolidation phase within a larger uptrend. With key levels in place and continued accumulation from both institutional and retail participants, Ethereum’s price action continues to support a scenario where $6,000 remains a plausible target.

Source: [1] Ethereum Price Pullback Holds but Social Buzz Points toward $6,000 (https://www.thecoinrepublic.com/2025/08/25/ethereum-price-pullback-holds-but-social-buzz-points-toward-6000/) [2] Ethereum Price Forecast: ETH plunges 8% amid strong accumulation from BitMine and Bitcoin whales (https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-forecast-eth-plunges-8-amid-strong-accumulation-from-bitmine-and-bitcoin-whales-202508252040) [3] Ethereum Price Pulls Back Hard, Bitcoin Crash Fuels Bearish Wave (https://www.xt.com/en/blog/post/ethereum-price-pulls-back-hard-bitcoin-crash-fuels-bearish-wave) [4] Ethereum Price Recovers Above $4250 but Faces Resistance at $4300 (https://holder.io/news/ethereum-price-recovers-4250-resistance-4300) [5] Ethereum Price Battles Key Barrier as Bulls Eye a Breakout (https://www.mitrade.com/insights/news/live-news/article-3-1060422-20250822)