Ethereum Price Turns Bullish as Institutional Interest Shifts from BTC to ETH

Ethereum (ETH) price is gaining momentum as institutional investors appear to be rotating capital from Bitcoin (BTC) into ETH, signaling growing confidence in the token’s future prospects. The primary driver of this narrative is BlackRock’s growing ETH holdings, alongside a reduction in its BTC exposure. Galaxy Digital’s major OTC whale purchase also adds a tailwind for a bullish Ethereum price forecast. Coupled with technical patterns, this fundamental shift in investor mindshare from Bitcoin to Ethereum is massively bullish for ETH.

BlackRock’s ETH Accumulation Highlights Institutional Shift

In less than 24 hours, BlackRock’s ETH holdings surged from 1.3 million to 1.4 million tokens while BTC holdings dropped from 665,000 to 661,000 tokens. At press time, Ethereum trades at $2,600 and Bitcoin at $105,000, making the asset manager’s recently acquired Ethereum stake worth $260M while a $420M reduction in their Bitcoin holdings.

This pivot in institutional interest may be favoring Ethereum’s lower entry point and stronger growth prospects, especially with ETH trading at $2,600 compared to BTC’s $105,000.

$283M Whale Purchase Signals Strong Demand

An institutional buyer acquired 108,278 ETH ($283M) in an over-the-counter (OTC) deal, adding fuel to the bullish momentum. Lookonchain’s blockchain data reveals that Galaxy Digital’s OTC wallet withdrew 89,000 ETH ($233.5M) from exchanges before transferring 108,278 ETH to wallet “0x0b26,” which now holds $365M in ETH. Such large-scale moves indicate high conviction in Ethereum’s next leg up.

In addition to the institution-led buying spree, spot Ethereum ETF inflows are also skyrocketing, showing a widespread and sudden spike in interest surrounding Ethereum. With capital flowing into the network on all fronts.

On-Chain Data Shows Sustained Buying Pressure

Apart from some profit-taking, Ethereum’s net flows remain strongly positive, according to Artemis’s on-chain data. One-month Ethereum inflows totaled $5 billion, while outflows reached $4.1 billion, resulting in a net positive flow of $852 million.  This flow characteristic suggests that new buyers are absorbing sell pressure, which is a key ingredient for sustained upside. Ethereum price needs this due to its lackluster performance seen over the past two years.

Reaccumulation Pattern Hints at $5,000 Ethereum Price Target

Etheruem price action between 2024 and 2025 shows a Wyckoff Reaccumulation pattern as pointed out by Crypto Ceaser. Based on this pattern on the one-day chart, the ETH price has flipped bullish and could potentially reach $5,000.

Currently, Ethereum trades in the $2,190 to $4,081 range. The sweep of the range low at $2,190, followed by a recovery above it in May, confirms the “spring” phase of the Wyckoff Reaccumulation pattern. Wyckoff notes that a recovery and test are key confirmations that support the expansion phase. The target of this phase is the range high – in this case, $4,801. The expansion phase contains LPS (Last Point of Support), where the ETH price currently hovers, and is followed by SOS (Sign of Strength) as the asset encounters the range high.

A breakout above the range high at $4,801 will likely be followed by another retest, aka LPS, before Ethereum price enters the discovery phase

Speaking to CoinGape, Ryan Lee, Research Analyst at BitGet, provided a short-term outlook on the Ethereum price. He said:

“ETH’s range of $2,200–$2,800 reflects consolidation near the $2,738 resistance, with strong support at $2,500. With 67% of holders in profit, bullish momentum is building. A decisive break above $2,810 could propel ETH toward $3,000, though bearish wicks indicate some hesitation.”

Technical analysis points to a Wyckoff reaccumulation pattern in ETH’s price action—a phase where ‘smart money’ accumulates assets before a markup. While the necessary confirmations have already arrived, a breakout above $2,810, potentially, $3,000, would cement the bullish trend and confirm the pattern. This move would open the door for an Ethereum price rally toward $5,000 based on the accumulation range’s measured move target.

For a detailed long-term price prediction on Ethereum – Read This