Mounting on-chain metrics, including significant exchange withdrawals and a negative 30-day SMA, signal renewed institutional accumulation as ETH nears its all-time high.
Ethereum is trading in the $4,600 range, just 4% shy of its all-time high, amid mounting buying pressure evidenced by over 1.2 million ETH withdrawn from exchanges and a negative 30-day SMA averaging -40,000 ETH. Robust spot ETF inflows, surpassing $1.5 billion in a week and totaling $27.6 billion in assets, further support bullish momentum, with some analysts forecasting prices up to $8,600 while others advise caution.