Ethereum is holding steady above the $4,400 mark after a weekend surge that briefly carried it to fresh all-time highs. The rally, fueled by strong institutional demand and broader market optimism, has been tempered over the past two days as the price retraced to test lower levels. Despite the pullback, ETH remains one of the most closely watched assets in the market, with bulls and bears both eyeing the next decisive move.

Analysts are divided. Some argue that ETH’s ability to maintain support above $4,400 signals resilience and a potential setup for another rally toward $5,000. Others, however, see warning signs of buying exhaustion and raise concerns of a deeper correction if market sentiment shifts.

Adding to the intrigue, blockchain analytics firm Lookonchain revealed that Bitmine, Ethereum’s largest corporate holder, bought another 4,871 ETH worth $21.28M just 12 hours ago. This brings Bitmine’s total holdings to staggering levels, reaffirming the narrative of large-scale institutional accumulation.

The combination of strong whale activity, heightened institutional demand, and volatile short-term price swings underscores the pivotal moment Ethereum faces. Whether ETH breaks higher into uncharted territory or succumbs to correction pressures will be a defining factor for the broader altcoin market.

Ethereum Whale Accumulation Strengthens Bullish Outlook

According to Lookonchain, Bitmine currently holds 1,718,770 ETH valued at $7.65 billion, making it one of the largest corporate holders of Ethereum. This accumulation Go to Source to See Full Article
Author: Sebastian Villafuerte