Ethereum News Today: Ethereum ETFs See $96M Inflows as Whales Add $200M in Holdings

Ethereum (ETH) prices have held firm above the $2,900 level, rising 2% in the last 24 hours to $2,903. The broader cryptocurrency market followed suit, climbing 1.24% as Bitcoin, Solana, XRP, and Dogecoin all recorded modest gains. Analysts are watching for signs that the recent price stabilization could signal the start of a sustained upward trend.

ETF inflows for Ethereum saw a significant jump on November 24, with U.S. spot Ethereum ETFs recording $96.67 million in net inflows. BlackRock's Ethereum ETF accounted for the majority of the inflow at $92.6 million, marking the first inflow for the fund in two weeks. This followed an eight-day streak of outflows and marked the second consecutive day of positive flows for Ethereum ETFs according to market data.

Whale activity has also increased, with large investor BitMine acquiring 69,822 ETH, valued at over $200 million, last week. The addition brings BitMine's total holdings to 3.63 million ETH, or approximately 3% of Ethereum's total supply. Whale wallets holding between 10,000 and 100,000 ETH collectively increased their holdings by 440,000 ETH over the same period according to market analysis.

Market Sentiment and Technical Indicators

Improved investor sentiment is also evident in the Coinbase Premium Index, which rose from -0.12 to -0.02 over the past week. While still negative, the improvement suggests that U.S. investors are increasingly viewing Ethereum favorably compared to a week ago according to market data.

On the technical side, Ethereum's MACD indicator crossed above its signal line on the four-hour chart, and the histogram turned positive. These readings point to potential bullish momentum in the near term. The RSI is currently near the neutral level of 50, and a move above this threshold could indicate stronger buying pressure according to technical analysis.

Ethereum has traded within a range of $2,700 to $3,300 in recent weeks, currently consolidating as traders closely monitor the $3,000 resistance level. A break above $3,000 could see the price push toward the upper boundary of the descending channel near $3,100, just below the 20-day Exponential Moving Average according to technical indicators.

Rate Cut Expectations and Futures Activity

Federal Reserve rate cut expectations have surged, with the probability of a reduction at the December meeting jumping from 30% to over 80% in the past week. This increase in rate cut expectations has coincided with renewed U.S. investor interest in Ethereum, though uncertainty remains about whether the current price level marks a true bottom according to market analysis.

ETH futures have seen mixed activity, with net outflows totaling $4.31 billion over the past seven days. However, inflows returned this week with $735.46 million entering futures markets over the past three days. In the last 24 hours, futures liquidations reached $80.8 million, with $51.3 million attributed to short positions according to futures data.

Support levels remain critical for Ethereum, with $2,850 recently reclaimed as a key level. Below this, the lower boundary of the descending channel offers additional support. Traders and investors are closely watching these levels to determine whether the current consolidation will lead to a breakout or a pullback.

Investor Behavior and Market Outlook

Smaller whale cohorts showed a different pattern, with wallets holding 1,000 to 10,000 ETH distributing 100,000 ETH over the past week. Similarly, wallets with 100 to 1,000 ETH sold 120,000 ETH during the same period. This divergence in behavior suggests that while large holders continue to accumulate, smaller investors are taking profits or reducing exposure according to whale activity data.

The broader market environment remains in flux as investors balance growing ETF inflows, whale accumulation, and shifting macroeconomic signals. With the Federal Reserve poised for a major policy decision in December, the next few weeks could prove pivotal for Ethereum's price action.

Traders are advised to monitor key levels such as $3,000 and $2,850, as well as the evolving rate cut expectations and ETF inflow trends. For now, Ethereum appears to be in a consolidation phase, with no clear direction yet emerging.