Ethereum Buying Pressure Reaches Critical Level Amid Massive Whale Buying
Summary
Institutional investors are rapidly accumulating Ethereum after SEC approval of Spot Ethereum ETFs. This has led to increased buying pressure, with the number of addresses holding over 10,000 ETH increasing by 3% in the last three weeks. Speculation over ETF approvals and institutional buy-in has fueled Ethereum's price increase. The recent surge in interest signals a bullish outlook for Ethereum's price, although short-term volatility is possible. Ethereum is currently trading at $3,527 and faces a major resistance at $3,700.
