Ethereum News Today: Ethereum Surges 15% to $3,500, Institutional Demand Drives Wyckoff Markup Phase

Ethereum has entered a significant phase in its price trajectory, confirming the Wyckoff markup phase after surpassing the $3,500 mark. This development has set the stage for a potential push towards the $4,000 level, as the cryptocurrency continues to gain momentum. The Wyckoff Accumulation pattern, which Ethereum has followed with precision, involves several key phases: a selling climax, a gradual range, and a final breakout. Ethereum's journey through these phases has been marked by declining volume and volatility, indicative of institutional accumulation. The recent price action, including a brief drop below key support in Q4 2023 and a subsequent recovery, has further solidified the demand for Ethereum.

According to analysis by Merlijn The Trader, Ethereum completed the Wyckoff Accumulation cycle from mid-2022 through early 2024. The cryptocurrency experienced a selling climax near $880 and then entered a range between $1,000 and $2,000. This period of consolidation was characterized by low volatility and declining trading volume, suggesting that institutional investors were quietly accumulating positions. The price then recovered and tested the previous range low, confirming strong demand. By early 2024, Ethereum crossed above the $3,000 resistance area, marking a significant breakout known as the "jump across the creek" in Wyckoff terminology. This move signaled the start of the markup phase, where prices are expected to rise sharply.

As of July 2025, Ethereum is trading above $3,500 and is building an upward trend. According to CryptoJelleNL, Ethereum has smashed through the $3,500 resistance area and has just one last hurdle to overcome: $4,000. This resistance level, if breached, could pave the way for further gains and potentially attract more institutional investors.

Institutional demand for Ethereum continues to surge, driven by strong inflows into Ethereum ETFs. July saw $2.27 billion in net inflows into spot Ethereum funds, with BlackRock’s ETHA fund attracting nearly $500 million during this period. This consistent interest from large investors underscores the growing institutional support for Ethereum. On-chain data further supports this trend, with whales accumulating 1.49 million ETH in July, a 95% rise from the previous month. SharpLink Gaming has emerged as the largest known corporate ETH holder, with over 111,000 ETH valued at $343 million and a 99.7% stake. This accumulation by institutional investors and whales suggests a strong belief in Ethereum's long-term potential.

Technical indicators also point to bullish strength for Ethereum. The cryptocurrency recently broke out of an ascending triangle pattern and continues to trade above key moving averages. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) maintain strong positions, indicating positive momentum. Additionally, open interest in futures and options has increased, reflecting growing market participation and confidence in Ethereum's price appreciation.

In summary, Ethereum's price action has confirmed the Wyckoff markup phase, with the cryptocurrency trading above $3,500 and aiming for the $4,000 level. Institutional demand continues to surge, supported by strong inflows into ETFs and significant on-chain accumulation by whales. Technical indicators remain bullish, with Ethereum breaking out of key patterns and maintaining strong momentum. As Ethereum enters this markup phase, market participants will be closely watching for further developments and potential catalysts that could drive the price higher.