Ethereum’s Price: $4800 or Bust? 🤑 Whales Say “Darlings, It’s a Bull!”

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Key Takeaways, Darling! 💎

Ethereum’s supply on exchanges has plummeted, darlings, back to its pre-June levels. 🌊 Whales and institutions are gobbling up ETH like it’s the last canapé at a Coward soiree, snapping up $448.92M worth! 🍾

Since its brief flirtation with $4.6k last week, Ethereum [ETH] has been lounging in a consolidation range of $4.2k to $4.5k, darling. So très chic! 💅

At the time of writing, the altcoin was sashaying at $4.408, after a modest 0.44% gain in 24 hours. Naturally, some savvy investors are sipping their martinis and accumulating while the market takes a nap. 🥂

Binance’s Ethereum Supply: Down, Down, Down! 📉

According to CryptoQuant’s Arab Chain, the Ethereum Exchange Supply Ratio on Binance has nosedived from 0.041 to 0.037 in just two weeks. Scandalous! 😱

Such a dramatic fall, darling, suggests Binance investors are hoarding ETH like it’s the latest Hermès scarf. Thanks to this dip, the ESR is back to its pre-June levels, indicating the market has flushed out all those pesky profit-takers. 🧹

Historically, a declining ESR has been the harbinger of significant upside, darling. After all, less liquidity on exchanges means sellers can’t push the price down. If this trend continues, we might just be waltzing into a new institutional-led bull cycle. 🎩

Whales Leading the Charge, Naturally! 🐳

Of course, it’s the whales and institutions who are leading the charge, darling. They’ve been accumulating ETH like it’s going out of fashion. 🛍️

According to On-chain Lens, these titans have snapped up $448.92M in ETH. Bitmine, darling, has been particularly voracious, buying 69,603 ETH worth $300M from BitGo and Galaxy Digital. Bravo! 👏

Meanwhile, three other whale wallets have acquired 12,692 ETH ($54.84M), 18,404 ETH ($79.45M), and 3,388 ETH ($14.63M). Thanks to these purchases, Ethereum has recorded a negative Exchange Netflow for seven consecutive days, with 05 September being the odd one out. 🗓️

When whales and institutions start accumulating like this, darling, it’s a clear sign of conviction. Bullish, indeed! 🐂

A Peek at the Derivatives Market, Darling! 📈

With demand stabilizing, investors are dipping their toes into the derivatives market, darling, positioning themselves strategically. 🕵️‍♂️

According to CryptoQuant, the Derivatives Taker Buy Sell Ratio has turned positive after a week of negativity. How très dramatic! 🎭

A positive ratio, darling, means buyers are more aggressive than sellers – a clear sign of short-term bullish momentum. 🌞

And let’s not forget the positive funding rate, which further validates this bullish sentiment. When this metric rises, it means investors are taking long positions. Optimism, darling, is in the air! 🌟

What Do the Momentum Indicators Say, Precious? 💨

According to AMBCrypto’s analysis, Ethereum’s price has found stability as whales and institutions continue their accumulation spree. 🛒

Thanks to this, the altcoin’s momentum has recovered somewhat. The Stochastic RSI, darling, has jumped to 13 after a bullish crossover. 🎢

Likewise, the Relative Vigor Index (RVGI) has made a bullish crossover, hitting -0.1117, further validating the strength of the uptrend. 🏋️‍♂️

When these indicators align like this, darling, it’s a clear sign that buyers are dominating the market. The uptrend, my dear, could very well continue. 🚀

If buyers and institutions keep accumulating, ETH will break out of this consolidation and breach $4.6k. After that, $4.8k might just be within reach. 🌈

But, darling, if momentum fades and selling resumes, ETH could drop to $4.2k. C’est la vie! 🌧️

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2025-09-06 01:18