Ethereum is showing renewed strength after a sharp but short-lived pullback. Following its recent high of $3,860, ETH dipped to the $3,500 zone — a key level that quickly attracted buying interest. Now, price action is pointing upward again, with Ethereum pushing to reclaim the $3,700 range, signaling bullish momentum may be back in control.
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Despite the recent volatility, on-chain data support the case for continued upside. According to Santiment, whales have been aggressively accumulating ETH throughout the pullback. This surge in accumulation suggests that institutional players are positioning themselves ahead of the next leg of the rally, anticipating strength in the coming months. These strategic inflows have historically preceded sustained upward trends.
The resilience around the $3,500 level, combined with the swift recovery attempt, underscores Ethereum’s strong bullish structure. With a favorable macro environment, regulatory clarity, and mounting institutional interest, Ethereum appears poised for continued expansion as the second half of the year unfolds. All eyes are now on whether this bounce holds and leads to a renewed breakout above resistance.
Whales Add Ethereum as US Legal Clarity Boosts Bullish Outlook
Ethereum’s bullish momentum is being reinforced by aggressive accumulation from major investors. According to analyst Ali Martinez, whales have purchased more than 1.13 million ETH—worth approximately $4.18 billion—over the past two weeks. This surge in buying activity marks one of the most significant accumulation phases in recent months and signals rising confidence among institutional players.
The accumulation comes at a critical time for Ethereum, which has been consolidating near the $3,700 level after a brief pullback from its $3,860 high. This whale activity not only adds fuel to the ongoing price recovery but also strengthens Ethereum’s bullish structure heading into the second half of the year.
Beyond market behavior, macro and regulatory shifts are also favoring Ethereum and the broader altcoin market. The recent passage of the GENIUS Act and Clarity Act by the US Congress marks a pivotal moment for crypto legislation. These new laws offer long-sought legal clarity for decentralized finance (DeFi) platforms and digital assets, encouraging US-based innovation and capital flows into the space.
This evolving regulatory framework removes one…
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