Ethereum has held above $1,900 for four consecutive daily closes, a streak last recorded over a month ago.
At press time, Ethereum (ETH) It traded at around $1,914 after falling 0.79% over 24 hours. While ETH defended this level, two large buyers added more than 30,000 tokens through separate transactions.
Why do whales buy Ethereum?
According to Lookonchain, A The whale bought 27,000 Ethereum $52.03 million through Galaxy Digital OTC. This deal came after three months of inactivity for the portfolio, marking a notable return to the market.
However, a single purchase cannot confirm that the whale expects the broader Ethereum downturn to end.
Lookonchain also mentioned this Arthur Hayes bought Another 644.34 Ethereum worth $1.25 million. The purchase brought his eight-day backlog to 3,270 ETH, acquired for approximately $6.27 million.
Together, both trades reflected renewed demand from large buyers as Ethereum held above $1,900.
Ethereum’s Spot Netflow turned negative after remaining positive for five consecutive days. At the time of writing, Spot Netflow was valued at around -$16 million, indicating that more ETH has left exchanges than entered.
Exchange withdrawals may immediately reduce available selling supply, although they do not guarantee continued price gains.
Are institutions buying Ethereum too?
US Ethereum ETFs also recorded improved demand during the week.
Verified data for July 21 showed $37.47 million in net inflows, extending the streak to three sessions. BlackRock’s ETHA attracted $52.79 million, while Fidelity’s FETH recorded $15.32 million in net outflows.
These flows showed renewed institutional interest, although three positive sessions were unable to establish a long-term position.
Can Ethereum Finally Cross $2K?
The Bulls vs. Bears indicator for Ethereum is said to have remained positive for three weeks and reached 62. However, this reading requires the original TradingView chart before publication.
The Moving Average Convergence Divergence (MACD) indicator reportedly continued to rise, indicating that bullish momentum has improved. This signal also requires chart verification because the time frame and settings for it are not provided.
If whale demand and ETF inflows continue, Ethereum may retest psychological resistance at around $2,000. A sustained move above this level would provide stronger confirmation than portfolio activity alone.
Final summary
- The whale bought 27,000 ETH, while Arthur Hayes raised his eight-day accumulation to 3,270 ETH.
- Ethereum could retest $2,000 if whale demand, ETF outflows, and negative spot network flow persist.
