ETH Breaks Through 3250: BlackRock Increases Holdings, Whales Accumulate Coins, Institutions Drive a New Round of Rally

According to the latest news, Ethereum (ETH) has broken through the 3250 USDT integer level, with the current price at 3250.37 USDT. This breakthrough is not an isolated event but the result of multiple factors working together. Continuous inflow of institutional funds, on-chain whale accumulation, and bullish traders have collectively driven ETH’s recent strong performance. From a 7-day increase of 9.31% and a 30-day increase of 3.28%, ETH is currently in an upward channel.

The Core Drivers Behind Institutional Fund Support

BlackRock’s Ethereum ETF has become a key force driving the price up in recent days. According to reports, BlackRock purchased $102.9 million worth of Ethereum on January 5. This capital inflow coincides with the timing of ETH’s price increase.

More notably, BlackRock’s actions are not isolated. Previously, its Bitcoin ETF bought $287.4 million worth of Bitcoin on January 2, setting the largest single-day purchase in nearly three months. This indicates that one of the world’s largest asset management firms is systematically increasing its crypto allocations.

On-Chain Data Confirms Bullish Sentiment

In addition to institutional funds, on-chain data further confirms the market’s bullish sentiment:

• Trader Accumulation: Noted trader 0x10a3 added ETH long positions on January 6, currently holding 5,000 ETH with unrealized profits exceeding $3.5 million.

• Whale Accumulation: On January 6, a whale address deposited 28,320 ETH (approximately $91.67 million) into the Beacon staking contract, often seen as a sign of long-term confidence.

• Shorts Being Liquidated: As prices rise, short-sellers are experiencing floating losses. User pension-usdt.eth’s 3x ETH shorts have lost over $1.68 million in unrealized profits.

Broader Market Sentiment Shift

ETH’s recent breakthrough occurs amid an improving overall market sentiment. Recently, US banks have allowed financial advisors to recommend cryptocurrencies to clients, reflecting a shift in traditional financial institutions’ attitudes toward digital assets. This positive policy signal aligns with the actual actions of institutional funds.

Points to Watch Moving Forward

From a technical perspective, ETH needs to confirm the support level at 3250 after breaking through. According to technical analysis in the reports, the immediate resistance is around 3167 USDT. If ETH can stabilize above 3250, the next target may be to push toward higher levels.

However, caution is warranted as macroeconomic conditions remain uncertain. The reports mention that although analysts believe ETH could surge significantly if Bitcoin hits a new all-time high, fragile macroeconomic environments also pose a risk of pullback.

Summary

ETH’s breakthrough of 3250 USDT is the result of multiple factors: inflows from institutions like BlackRock provide capital support; whale accumulation and trader positioning indicate market confidence; and overall positive market sentiment creates favorable conditions for further gains. With a market cap share of 12.33% and a 7-day increase of 9.31%, Ethereum is demonstrating its value as the second-largest crypto asset in the market.

However, the sustainability of this breakout still requires time to verify. Key points to watch are whether institutional funds will continue to flow in and if the market can maintain bullish sentiment when facing technical resistance. In the short term, 3250 has become a new support level, and future focus should be on whether ETH can continue upward from this base.