Ethereum News Today: Institutional Buying and Whale Accumulation Fuel ETH Rally Above $3,100

Ethereum (ETH) edged higher Monday as the price held above $3,100, supported by accumulating activity from institutional and whale investors.

. BitMine Immersion, the largest Ethereum treasury firm, increased its ETH holdings by 138,452 tokens last week, bringing its total to 3.86 million ETH, or 3.2% of the circulating supply. This move reflects growing confidence in Ethereum's fundamentals and upcoming network upgrades.

Key whale actors in the market also ramped up their exposure to ETH, opening leveraged long positions on decentralized exchange Hyperliquid. Investors known as BitcoinOG and pension-usdt.eth collectively hold $349.7 million in ETH longs, signaling a bullish shift in sentiment. Whale 0xBADBB has added $189.55 million in long ETH positions across two accounts, further amplifying buying pressure.

Ethereum faces key technical hurdles as it seeks to confirm a sustained recovery. The price remains in consolidation near $3,100 and the 20-day Exponential Moving Average (EMA), but faces resistance near $3,250, a level that has repeatedly blocked upward momentum since November. A successful breakout above this level could propel ETH toward $3,470, a price aligned with the 50-day and 200-day EMAs.

Institutional Buying and Market Sentiment

BitMine's latest purchase of 138,452 ETH marks its largest weekly acquisition since October 2025, reinforcing its position as the second-largest crypto treasury behind Michael Saylor's Strategy. The firm's chairman, Thomas Lee, cited the recent Fusaka upgrade, Federal Reserve tightening, and potential rate cuts as catalysts for Ethereum's price recovery. BitMine also increased its cash balance to $1 billion while holding 193 Bitcoin and a $36 million stake in Worldcoin, signaling a diversified institutional strategy.

The broader market has also seen whale activity support Ethereum's upward momentum. Whale-driven accumulation between November 18 and December 2 added 450,000 ETH to the market, a significant supply shift that could influence near-term price dynamics. With daily new Ethereum wallet creation hitting 190,000, broader participation is reinforcing bullish sentiment.

Technical and Market Analysis

Ethereum's price performance has been closely tied to on-chain metrics and technical indicators. Over the past 24 hours, the market saw $113.6 million in futures liquidations, with $64.6 million attributed to short positions. This suggests a growing trend of bearish positions being closed, favoring a short-term bullish bias.

On the technical charts, ETH's rally above $3,100 is testing key support and resistance levels. A move above $3,250 would signal stronger demand, potentially triggering a test of the $3,470 resistance. On the downside, ETH could drop to $2,800 if it fails to break above the psychologically important $3,000 level which has repeatedly blocked upward momentum. The Relative Strength Index (RSI) and Stochastic Oscillator both indicate increasing bullish momentum, with a potential crossover accelerating upward movement.

Broader Market Trends

The Ethereum market has also been influenced by ETF inflows and global regulatory developments. Ethereum spot ETFs have driven institutional demand, with major funds like BlackRock's ETHA and Grayscale's ETHE playing a key role in price movements. ETF inflows provide a structural demand for ETH, reducing circulating supply and supporting higher prices. However, outflows or regulatory shifts could trigger volatility.

Japan's potential tax reform is another key factor for Ethereum and the broader crypto market. A proposed 20% flat tax rate on crypto gains would reduce the effective tax burden, encouraging greater participation from Japanese investors. This could lead to a surge in Ethereum and Bitcoin demand, especially from institutional players and retail investors who were previously constrained by high taxes.

What This Means for Investors

For investors, the convergence of whale activity, institutional buying, and ETF inflows suggests a strong near-term bullish outlook for Ethereum. However, volatility remains a concern, particularly if the market faces regulatory headwinds or ETF outflows. Investors should monitor key price levels and on-chain metrics to gauge the sustainability of the current uptrend.

Holding ETH directly offers full access to staking, DeFi, and other on-chain opportunities, while ETFs provide a safer, more accessible route for investors who prefer custody-free exposure. A diversified approach combining both strategies could help investors balance risk and upside potential as Ethereum navigates the evolving market landscape.