Ethereum Holds Steady as Institutional Demand and Rate-Cut Hopes Rise
- Ethereum is stabilizing above $2,900 amid improving macroeconomic conditions.
- Probability of a Federal Reserve rate cut in December has increased to over 80%.
- U.S. spot Ethereum ETFs saw inflows of $96.67 million on November 24, with BlackRock contributing $92.6 million.
- Treasury giant BitMine added over $200 million worth of ETH last week, raising its holdings to approximately 3% of the circulating supply.
- Whale wallets accumulated an additional 440,000 ETH within one week.
Ethereum’s price stability is driven by increased institutional demand and expectations of a Federal Reserve rate cut, which could boost risk-on assets like crypto. The significant inflows into Ethereum ETFs and aggressive accumulation by major holders underscore growing confidence in the asset’s potential for a rebound toward $3,400.
The probability of Ethereum retesting the $3,400 level is bolstered by institutional investments and whale activity, although confirmation through key resistance levels is necessary for further gains.( Source)
