If Bulgakov were to gaze into the chaotic, blinking carnival that is Ethereum now, he’d probably see a city of shadowy figures-whales, institutions, and speculators-dancing in a grand, mysterious masquerade. The coin has somehow, amidst the rubble of macro fears and market gloom, punched through $3,700 like a stubborn cockroach under a boot. Will it carry on and punch beyond $3,800, or is this just another fleeting illusion in the fog of crypto paranoia? 🤔
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Meanwhile, the latest acts include new wallets with nearly 40,000 ETH-about $142 million-purchasing on August 4, and more of the same on August 5 with a collective gulp of over 856,000 ETH, or roughly $3.16 billion in the grand scheme of digital madness. These actors are not only buying; they’re staking their claim for a long, if slightly insane, journey ahead.
It’s as if high-net-worth individuals and institutional titans are whispering to each other, “Hold on tight, we’re going for the moon,” all while retail traders watch anxiously, clutching their charts and dreaming of riches-or ruin.
Interest from institutions swells-treasuries, funds, and a peculiar growing interest in the SIG (Strategic Ethereum Reserve)-now managing over $10 billion. For context, just six weeks ago, it was a paltry $3 billion. Who needs control when you have Ethereum and a gaming Nasdaq darling like SharpLink adding 18,680 ETH to the pot? A strategic long-term love story, perhaps, with a hint of corporate treasuries playing the role of the naive romantic.
What Might The Future Hold? Or Does It Even Matter?
Despite the flurry of whale activity and institutional flirtations, Ethereum bumps into the stubborn resistance of around $3,800-$3,900 like a mule at a sugar shop. The market’s still cautious, seeing ETF outflows of $129 million-imagine trying to punch through a pane of glass with a feather-that’s the mood of the mainstream investors.
Straddling this uncertainty is the shadow of dense liquidations lurking between $3,620 and $3,660, like a vampire waiting in the dark, ready to cut the line if ETH dips. If it does, we might see a cascade into the $3,580-$3,540 zones-liquidity magnets pulling ETH into the abyss, with open longs wondering if it’s time to say goodbye.
Yet, if the bulls rally and defend these fragile supports, ETH’s next steps could be a swift ascent toward those tantalizing short liquidation zones near $3,730-$3,780. The dream of hitting $4,000 remains alive, fueled by bullish tech signals and the eternal hope that this digital Babel will finally reach the promised land.
$ETH weekly chart is giving BTFD vibes.
Perfect support retest, and now buyers have stepped in.
Send ETH above $4,000 now. 🚀 – Ted (@TedPillows) August 4, 2025
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2025-08-05 11:11