Ethereum ‘Hot Capital’ Sharp Rebound, Impact On ETH Price

Ethereum (ETH) price is in the spotlight as new figures point to a fresh wave of investor interest.

Activity on the network is picking up pace, and large holders are making moves that could influence where prices go next.

According to a recent update, Glassnode and Lookonchain shared new data that backed this thesis.

Both platforms show how capital flows into Ethereum and what major investors are doing with their assets.

Surge in Hot Capital Points to Rising Investor Confidence

According to blockchain analytics firm Glassnode, Ethereum’s Hot Capital climbed sharply in the last two weeks.

On April 17, the figure stood at $2.60 billion. By April 28, it had skyrocketed to a new high of $4.34 billion.

According to the update, that marks a 67% increase. This suggests that new money is entering the Ethereum market quickly.

Hot Capital measures the amount of fresh investment in a cryptocurrency over a period of days.

Based on historical trends, this type of jump often shows renewed investor confidence.

Earlier this year, Ethereum saw a major drop in this metric. Glassnode recorded a 52% decline in February from its December 2024 high.

This rebound could be a positive turning point for the second-largest cryptocurrency.

The surge also seems linked to ETF inflows. A few weeks ago, Fidelity’s FBTC ETF contributed to the sharp rise in Ethereum funds.

This assumption follows the addition of 3,498 ETH tokens worth $6.48 million.

Despite the rising short-term interest, Glassnode cautioned that Ethereum’s 200-day moving average has been trending down since late March.

Ethereum News: Whale Wallets Make Big Moves on Both Sides

In complement to the positive hot capital narrative, Lookonchain tracked large movements from whale wallets.

According to the update, one wallet linked to trading firm Cumberland withdrew 27,632 ETH from exchanges including Copper, Binance, and Coinbase.

Reports indicated that the total value was around $50.24 million. Such actions are often seen as a sign that institutions may be positioning for a price rise.

However, to complement this Ethereum news, not all large holders were accumulating. One wallet took the opposite approach.

After purchasing 14,994 ETH at $1,801, the holder sold 10,511 ETH for $1,828. This whale still have the remaining 4,491 ETH at $1,797.

If anything, these quick trades show that large investors do not all share the same outlook.

Some users on social media have suggested that this could indicate price manipulation.

For context, they pointed to recent Bitcoin activity, which saw sudden spikes to $95,013.26, as evidence to support their claims.

Mixed Signals for Ethereum Price Direction, but Key Levels to Watch

Market data shows that the ETH price was trading at $1,815.21 as of this publication, up 1.39% in 24 hours.

The price remains close to a known resistance level at $1,829.87. Traders are watching closely to see if ETH can break through.

This aligns with an earlier update indicating that if Ethereum breaks above the flag pattern’s upper resistance, its price could rise to as high as $8,000.

Meanwhile, some technical signs point to bullish momentum. Whale net flows are rising, and a MACD crossover was observed.

Should ETH price stay above $1,800, it could move toward $1,950 or $2,000 in the mid-term.

Still, the Relative Strength Index (RSI)shows the market is overbought, opening the door for a potential short-term dip.

Should that occur, $1,750 is seen as a strong support level.

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