Ethereum Price Drops 5% Amid Institutional Buying Spree

Ethereum's price has experienced a significant decline recently, mirroring a broader selloff in the cryptocurrency market. However, the recent surge in institutional interest and whale accumulation suggests that a recovery may be on the horizon.

Several top financial organizations have acquired over $500 million in Ethereum in recent days, indicating a growing interest in the leading altcoin. This institutional buying spree, which occurred between June 10 and June 12, 2025, involved asset managers such as BlackRock, Grayscale, Fidelity, and Bitwise. These purchases were made through spot exchange-traded funds (ETFs), with BlackRock leading the way by amassing over 124,000 ETH. Grayscale and Fidelity also made regular daily purchases across their ETF products.

Data from CoinGlass indicated net inflows of 172,000 ETH over the three days, marking the largest accumulation volume by ETF providers since ETH spot ETF listings became active. This purchasing trend occurred amidst relatively stable price action, suggesting that these institutions are positioning themselves for bullish momentum.

In addition to institutional buying, on-chain analytics from Glassnode revealed that wallets holding between 1,000 and 10,000 ETH increased their holdings in early June. Whale net position change data showed a clear rise in ETH supply held by these wallets, with an uptick of more than 600,000 ETH within the first two weeks of the month. This accumulation followed months of reduced whale activity and coincided with broader ETF inflows, indicating positioning rather than responsive buying.

Furthermore, one Ethereum whale bought more than $10 million in ETH in several transactions using the CoW Protocol. These inflows, made up of one-time transfers of between about $759,000 to $1.6 million per transfer, totaled more than 2,500 ETH. This accumulation occurred during a temporary short-term price decrease, signaling active participation from high-net-worth players even after dips. The inflows were noted within days of the institutional ETF buying, indicating coordination in the accumulation patterns of various investors.

On the technical side, Ethereum's price is attempting to break a downward resistance level that has been in place since early June. The asset has been in a descending sloping channel, and recent movements have approached the breakout point. Analyst Carl Moon shared a chart indicating that ETH is currently positioned just below this resistance. A successful breakout could lead to a move toward the $2,700 horizontal level, which also coincides with historical resistance from earlier price action. This makes it a relevant target in the short term. ETH has been trading in a narrow range near $2,550, and the tightening Bollinger Bands suggest a potential sharp move.

The chart structure showed that the Ethereum price was attempting to reverse the trend that began after it retreated from the $2,800 area in May. At the time of writing, Ethereum's price traded at $2,439, down nearly 5% on the day. The altcoin rebounded from intraday lows near $2,371.47, and its 24-hour high was recorded at $2,559.