TLDR
- Long-term Ethereum holders accumulated 1.49 million ETH over the past 30 days, raising their total balance by 3.72%
- The Ethereum Foundation has been selling 1,000 ETH daily worth $2.46 million, totaling 13,000 ETH worth $32 million
- Binance recorded 100,000 ETH inflow worth $250 million in a single day, indicating aggressive selling activity
- Major companies like BitMine and Bit Digital are pivoting from Bitcoin to Ethereum for strategic advantages
- ETH price remains stuck between $2,400-$2,500 with upcoming Fusaka upgrade creating market anticipation
Ethereum faces a crossroads as conflicting forces shape its price action around the $2,400 mark. The cryptocurrency has struggled to break out of its current range after dropping from $2,800 to $2,100 last month.
Large holders continue buying despite price stagnation. Whale purchases reached 704,000 ETH on July 1st, outpacing the 585,000 ETH sold on the same day. This created a jump in Large Holders’ Netflow from 9,800 to 119,300.
The accumulation pattern shows strong conviction among experienced investors. Long-term holders increased their total balance by 3.72% over the past month. This type of buying activity rarely occurs and often precedes market movements.
Strong Accumulation Pattern Detected Among ETH Hodlers
“Significant buying pressure from long-term holders emerged during the June consolidation phase, with accumulation volume showing notable divergence.” – By @t0_god
Link ⤵️https://t.co/3UaJlKbFCN pic.twitter.com/EdraddDd73
— CryptoQuant.com (@cryptoquant_com) June 30, 2025
Foundation Selling Creates Pressure
The Ethereum Foundation has been transferring 1,000 ETH worth $2.46 million daily to Multisig wallets. The organization has offloaded a total of 13,000 ETH worth $32 million so far.
This selling pressure contrasts with whale accumulation patterns. The Foundation’s moves raise questions about whether this represents routine operations or strategic positioning.
Exchange inflows have spiked across major platforms. Binance alone saw 100,000 ETH worth $250 million enter its reserves in one day. Large exchange inflows typically suggest increased selling pressure and often precede short-term price declines.
Retail investors appear to be taking profits while institutional players accumulate. This creates a tug-of-war between different market participants.
Institutional Interest Grows
BitMine Immersion Technologies launched a $250 million private placement focused on Ethereum rather than Bitcoin. The company plans to monitor ETH-per-share metrics and align its business model with Ethereum’s performance.
Tom Lee joined BitMine as chairman of the board during this strategic shift. His arrival comes as the company moves away from traditional Bitcoin-heavy strategies.
Bit Digital ended Bitcoin mining operations to focus on Ethereum staking and treasury operations. This represents a broader trend of institutional interest in Ethereum’s utility.
Companies cite Ethereum’s role in powering decentralized finance and stablecoins as key factors. Stablecoins see increased adoption among financial institutions, giving Ethereum strategic importance.
The RSI Divergence Indicator hovers around 48.62, suggesting markets are in a cool-down period. This momentum indicator points to consolidation while waiting for the next catalyst.
Technical improvements continue with the Petra upgrade completed earlier this year. The upgrade improved network performance and scalability, boosting long-term investor confidence.
The upcoming Fusaka upgrade creates additional market anticipation. This upgrade is expected to bring further technical improvements to the network.
Price action remains range-bound between $2,400 and $2,500. If buyers continue while sellers exhaust, ETH could reclaim $2,548 and eye a breakout to $2,700.
However, if sellers outweigh buyers, Ethereum could decline to $2,372. This would breach the lower boundary of the current consolidation range.
The altcoin was trading at $2,461.49 at press time, up 0.84% on the day. Current accumulation levels remain high despite price stagnation.
