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The current Ethereum market presents a scene of intense competition, with prices wavering within the key range of $3820 to $3860. This situation often stems from disagreements among large investors: some choose to Buy the Dips, while others tend to take profits, resulting in a short-term market that remains in a state of fluctuation.
It is worth noting that institutional investors have shown a continued interest in increasing their holdings of Ethereum recently, seemingly maintaining an optimistic outlook on its prospects. Market participants are generally awaiting the interest rate decision to be announced by the Federal Reserve on the 31st of this month, hoping for clearer market guidance.
Data shows that large transactions occur frequently. A highly successful investor purchased 5,267 ETH at an average price of $3,797 in a short period. Another big player increased their holdings of 5,097 ETH at an average price of $3,924, with a total investment of about 20 million USDT, possibly optimistic about a rebound in the short term.
Meanwhile, some investors chose to take profits. For example, an investor who made considerable gains on the Blast network transferred 8231 ETH to Binance, suspected of preparing to cash out. In addition, a long-silent whale suddenly withdrew ETH worth 14.58 million dollars from Binance, possibly to seize the opportunity to buy the dips.
On the institutional side, BTCS has significantly increased its holdings by 14,240 ETH, bringing its total holdings to 70,028 ETH, with a market value of approximately $270 million, demonstrating confidence in the long-term development of Ethereum. Amber Group is also suspected of rapidly increasing its holdings by 15,814 ETH from multiple exchanges, and its total holdings now exceed $70 million.
For short-term traders, the current market conditions provide opportunities for two-way operations. Investors can pay attention to the support level at $3820 and the resistance level at $3860, considering trend-following operations when these key levels are broken. However, it is important to be particularly cautious of false breakouts; changes in trading volume are the key indicators for assessing the validity of breakouts.
In such a market environment, both institutional and individual investors need to stay vigilant, closely monitor market trends, and also pay attention to risk management by setting reasonable stop-loss positions to cope with potential market fluctuations.