Ether in the accumulation phase: a strategic window before the weekend

After a volatile week marked by the general fall in the crypto market, Ether is showing interesting signals that contradict the low prices. According to Standard Chartered’s Geoff Kendrick’s analysis, Ether deserves special attention due to several structural developments converging on bullish momentum. At $2,790 at the moment, the token is down 5.48% over seven days, but the underlying fundamentals are strengthening significantly.

Fusaka: The Technological Turning Point That Is Changing Ethereum’s Trajectory

The December Fusaka upgrade represents a major inflection for Ethereum. Unlike past improvements that failed to drive sustainable adoption, this release finally seems to be crossing the critical threshold by removing historical network capacity bottlenecks. Current data confirms this: transactions on the network have reached record levels, reflecting a real increase in user and developer activity.

This difference is crucial. Previous upgrades had produced only short-lived speculative rallies. Fusaka, on the other hand, increases the actual bandwidth of the chain, allowing the network to process significantly more transactions simultaneously. It is this technical distinction that transforms the current cycle into something fundamentally different.

Bitmine Immersion and Sustained Institutional Accumulation

The behaviour of institutional investors offers a key signal on the market’s real confidence. Bitmine Immersion, the largest institutional holder of ether, has shown no signs of slowing down in its acquisitions. At the Annual General Meeting held the previous week, Chairman Tom Lee reaffirmed plans to expand acquisitions for the coming months.

This persistent accumulation in a price correction phase represents a strong behavioural signal. When savvy investors accumulate during pullbacks, it indicates long-term confidence in the protocol’s prospects.

Favorable macroeconomic repositioning

Beyond onchain dynamics, the macroeconomic context is also improving. Three converging factors create a positive environment:

First, the resolution of Greenland-related tariff tensions reduces a major risk of volatility. Second, the Japanese bond market rebounded from the panic selling earlier this week, signaling a stabilization in global financial conditions. Third, the growing odds that BlackRock’s Rick Rieder (head of fixed income) will become the next Federal Reserve chair could usher in a period of favorable economic acceleration for risk assets, including cryptocurrency.

As Kendrick noted, “Such a scenario would keep the economy running at full capacity, which would be beneficial for the crypto industry as a whole.”

A window of opportunity for Ether before the weekend

The convergence of these three vectors – technical improvement via Fusaka, sustained institutional accumulation, and macroeconomic repositioning – creates an attractive risk-return configuration. The price pullback this week has created precisely the kind of environment where strategic accumulators make their moves.

For investors looking for exposure before the weekend, Ether presents an interesting profile. The upside potential of the coming days seems to favour a long position, particularly for a medium-term horizon.

The days of upgrades without lasting impact are over. With Fusaka as a technical catalyst and the entire macro backdrop improving, Ether is potentially going through a transition to a new growth regime.