Ethereum Spot Order Activity Hints at Institutional Re-Entry, Analysts Claim

Ethereum's recent spot order activity indicates a notable shift as large investors, or whales, are accumulating ETH at lower prices, hinting at a possible reversal of recent price trends. Whales holding between 10,000 and 100,000 ETH have increased their balances by 52% since April, buying up 7.6 million ETH after prices dipped to around $3,000. In contrast, smaller retail investors holding 100 to 1,000 ETH have reduced their holdings by 16%. Analysts suggest that this accumulation behavior coincides with broader market stabilization, predicting a potential local bottom at around $3,200, contingent on maintained favorable macroeconomic conditions. The upcoming Fusaka upgrade, planned for December 3, is expected to enhance Ethereum's scalability and reduce transaction costs, thereby attracting more institutional interest. With significant institutional holdings and positive regulatory prospects, ETH's price outlook might improve if these trends persist.

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