After a significant price rise for Ethereum in August, large investors seized the recent correction as an opportunity to increase their holdings. This article examines the actions of these investors and the price forecasts for the cryptocurrency.
Accumulation by Large Investors During Correction
The recent correction in Ethereum's price, which dropped to $4,250 from a peak of $4,800, has provided an opportunity for large investors. According to analyses, market participants holding between 10,000 and 100,000 ETH purchased 400,000 ETH during the dip. This amounts to over $1.7 billion, and this cohort of investors now holds about 25% of the total circulating ETH supply.
Predictions for ETH Price Increase
Experts believe that Ethereum could reach a new all-time high in the near term. On the social media platform X, some analysts note that the 'supertrend' remains steady and speculate that the price may rise above $6,000 in the coming weeks.
Overall Trends in Ethereum Market
The decline in ETH's netflow to exchanges to a nine-year low suggests a trend where investors are moving their assets into self-custody, which reduces immediate selling pressure. Large investors demonstrate confidence in Ethereum’s future, despite short-term price volatility.
The recent actions of large investors, combined with positive forecasts for an expected price increase in Ethereum, create an optimistic sentiment in the market. Participants continue to monitor the situation.
