Institutional investors flow into Ethereum ($ETH) is not slowing down. In a recent report, we investigated how Bitmine Immersion Technologies, the world’s largest corporate Ethereum holder with over 5 million Ethereum, owns Ethereum. $ETHhas a cleaner balance sheet because it doesn’t take on debt for acquisitions $ETH Be more proactive.
The average cost basis of Bitmine’s holdings is $2,336 per Ethereum. Strangely, it was not far from the current market price. $ETH.
Toward the end of April, $ETH Spot ETF flows turned negative, but turned positive again in May. Could Ethereum rise to $3,000 in 2026 when combined with further purchase commitments from digital asset vault Bitmine?
Realized price resistance changes Ethereum trend
Crypto analyst Ali Martinez wrote in a post on X that a new uptrend is underway. In mid-March, the Supertrend indicator turned bullish, and major altcoins have risen 30% since then.
It does face a significant hurdle of about $2.4 million. At the time of writing, it has surpassed the realized price of $2,380, a feat accomplished three weeks ago. What needs to be achieved now is that the price should sustain above this level and flip from resistance to support.
If buyers are able to continue pushing prices higher, it will signal a change in the market. Previously submerged holders can once again profit, and incentives to take profits and exit the market need to be balanced by absorbing supply in the form of steady demand.
The road to $3,000 and the thorns along the way
At the time of writing, the 7-day moving average of taker buy/sell volume is above 1. This means that the active purchase quantity was greater than the sell quantity. If this continues, the current uptrend will be maintained.
There were some obstacles on the way. CoinGlass’ six-month liquidations heatmap shows multiple clusters of dense short-term liquidations from $2.5,000 to $2.9,000, and another band of short-term liquidations at $3.5,000.
$2.8k to $2.9k was also a significant zone in the cost-based distribution heatmap. This means that the closer you get, $ETH Once reaching $2.9,000, buyers at these levels will need to sell more incentives. Traders must remember that these market participants hold large amounts of capital. $ETH The amount could be large enough to challenge or even reverse the bullish trajectory.
Potentially boosted by short-term liquidations of $250,000 to $290,000 $ETH But maintaining the upward trend requires active demand.
Bitcoin (BTC) has climbed above $82,000 but is still in a cyclical bear market. As it stands, it seems unlikely that Ethereum will rise to $3,000.
Final summary
- Ethereum is above the realized price of $2,380, and aggressive buying could sustain the uptrend.
- While a concentration of short-term liquidations could provide short-term momentum, a long-term bear market means a rally to $3,000 could be extremely difficult.
