$ETH at $2,296, do you want to buy it?

A dormant ICO address that has been inactive for 10 years suddenly moved, transferring 10k ETH (worth $22.88 million) for the first time. Meanwhile, an institution bought over 100k ETH in a single week, bringing its total holdings to 5 million ETH (accounting for 4.21% of the total supply), with 77% of the staked tokens locked.
On one side, ancient whales might be about to dump, and on the other, institutions are frantically accumulating— is this a signal to take over, or the last chance to get on board?
First, look at the surface: as steady as an old dog, unmoving.
In the past 24 hours, ETH price fluctuated by 0.6%, rising from $2,288 to $2,302. It increased 10.7% over 30 days, 4.5% over 7 days, with the bottom gradually rising, but holding it feels like waiting for someone who will never come.
Tensions between the US and Iran, oil prices back to $104, and the Fed’s rate cut expectations being cut to “near zero”— macroeconomic risks still hang overhead.
First thing: institutions are crazy, pouring real money in.
Fundstrat co-founder Tom Lee’s Bitmine bought over 100k ETH this week (worth $234 million), bringing total holdings to 5 million ETH, 4.21% of the total supply, aiming for 5%.
77% of the holdings are staked and locked, draining liquidity directly.
Second thing: a wallet that slept for 10 years has awakened.
An Ethereum ICO address, dormant for over a decade, holding 10k ETH (worth $22.88 million), suddenly completed its first transfer.
Meanwhile, Galaxy Digital-related wallets transferred 45k ETH (worth $104 million) to exchanges.
Third thing: technical signals show the bottom is rising.
On daily charts, $2,275–$2,200 is strong support, rebounding multiple times since April.
Short-term moving averages are starting to golden cross, MACD shows slight bullish signals, RSI isn’t overbought, and there’s room to grow.
The pattern resembles an inverted head and shoulders; if ETH stabilizes above $2,300 and breaks through $2,350 with volume, weekly charts will turn stronger.
One side: institutions are buying heavily, staking and locking, and technical bottoms are rising.
The other side: whales are waking up, ETFs are flowing out, and macro pressure remains high.
Key level: $2,275— the last line of defense for bulls and bears.
If you’re a short-term trader: buy in stages around $2,275, with a stop loss at $2,250.
Break above $2,350 with volume, target $2,500–$2,695.
If you’re a long-term investor: start building positions now, buy more if it drops to $2,200, add again if it breaks $2,350.
ETH is the king of DeFi and RWA infrastructure, with TVL exceeding $14 billion, and Fusaka hard fork and Pectra upgrade on the way.
ETH now looks like it did in 2016 when I first entered—people who don’t understand think it’s expensive, but those who do know it’s just beginning. #加密市场小幅下跌 $ETH 66666