ETH breaks through 3000, market divergence between institutional buying and whale selling

Ethereum just broke through the 3000 USDT threshold, currently trading at 3000.17 USDT. Behind this seemingly simple price breakthrough, however, lies a reflection of vastly different market participant attitudes: on one side, institutional investors continuously accumulating and positioning, while on the other side, large whales are trimming holdings at high levels to arbitrage. This market divergence warrants in-depth observation.

The Technical Significance of Breaking 3000

From the data perspective, ETH has increased by 1.95% over the past week and 5.06% over the past 30 days, indicating a relatively steady upward trend. The 3000 mark holds significant psychological importance; breaking through it signifies that Ethereum has established a new support level at this psychological price point. Currently, ETH’s market cap is $36.061 billion, accounting for 12.03% of the entire crypto market. As the second-largest asset by market value, its price movements often reflect the overall market sentiment.

The Battle Between Institutions and Whales

The most interesting aspect is the divergence in market participant behavior:

Signal of Continuous Institutional Accumulation

According to the latest news, institutional investors have been quite active in ETH. Bitmine bought 44,463 ETH last week, worth approximately $130 million, holding a total of 4,110,525 ETH valued at about $12.04 billion. Meanwhile, Trend Research also bought an additional 11,520 ETH, worth around $34.93 million. These large purchases indicate a long-term bullish outlook from institutional investors on ETH.

The Other Side: Whales Cutting Holdings

In contrast, a whale address using cyclic lending to long ETH, 0xa339, has recently been reducing holdings significantly. On-chain data shows this address sold a total of 50,623 ETH over 13 days, worth $1.4788 billion, with an average transaction price of about $2,921, realizing a profit of over $15 million. This suggests that large holders with low cost bases are taking profits at high levels.

The Deeper Meaning of Market Divergence

This buy-sell polarization reflects differing judgments about the future trend. Continuous buying by institutional investors may be based on recognition of ETH’s long-term value and optimism about ecosystem development. Meanwhile, whale selling is more about risk awareness, especially after securing substantial profits, choosing to lock in gains.

From a capital flow perspective, the 24-hour trading volume is $1.653 billion, down 15.78% from the previous day. This indicates that although the price is rising, trading activity is waning, which is often seen as a sign of weakening upward momentum. Additionally, ETH experienced a net outflow of $13.73 million over the past 24 hours, further confirming selling pressure.

Short-term Trend Observation

The key to the post-3000 movement is whether ETH can hold this level. Continued institutional accumulation provides buying support, but whale trimming and declining trading volume also exert pressure. From a technical standpoint, 3000 has become a new support level; if it holds, the price may continue upward. If it breaks below, a retest of the 2900-2950 range is possible.

Summary

ETH breaking through 3000 is an important psychological milestone, but the real market situation involves a battle between institutions and whales moving in different directions. The long-term bullish stance of institutions versus whales taking profits at high levels creates a clear market divergence. This divergence itself is normal in markets and part of the price discovery process. In the short term, the stability after breaking 3000 depends on whether trading volume can support the price rise and whether institutional buying can absorb whale selling pressure. Future focus should be on the sustainability of this level and whether trading activity can rebound.