The recent surge in Ethereum’s price to over $4,000 is supported by significant data analysis.
The Spot Taker CVD data indicates a consistent dominance of taker buys from June to August, leading to a substantial increase from $2,000 to $4,000, characterized by strong spot accumulation rather than short-term trading.
Source: CryptoQuant
Open Interest has reached $29 billion, nearing all-time highs, signaling an influx of fresh capital, driven by institutional investors.
Source: CryptoQuant
ETH Exchange Reserves have dropped to a 12-month low of 18.38 million, leading to a supply shortage in combination with increased demand, creating a potential squeeze situation.
Source: CryptoQuant
This scenario reinforces the potential for further price increases.
Significant buyers support the ETH rally
In addition to the positive setup for Ethereum, large buyers are entering the market aggressively.
President Trump recently made a significant purchase of 1,911 ETH, valuing $8.6 million!
Source: X
Furthermore, Bitmine Immersion Technologies [BNMR] has significantly increased its Ethereum holdings, acquiring 106,485 ETH worth over $470 million in the last 10 hours.
