Overview
- ETH pushed past its 2021 peak to a new all‑time high around $4,880–$4,900 late Friday into Saturday, with trackers like CoinGecko confirming the record after a rapid post‑Jackson Hole rally.
- U.S. spot ETH ETFs logged heavy net inflows — about $288 million on Aug. 21 and roughly $337 million on Aug. 22 — while Bitcoin funds saw outflows, highlighting a shift in institutional flows, according to SoSo Value and Farside Investors.
- On‑chain data showed rotation from BTC to ETH as long‑time Bitcoin whales sold thousands of BTC, bought more than 82,000 ETH, and opened a large leveraged ETH long on Hyperliquid, signaling aggressive repositioning.
- Corporate treasuries amplified demand, with BitMine Immersion holding roughly 1.5 million ETH (over $6–$7 billion) and SharpLink Gaming accumulating multi‑billion‑dollar ETH stakes, contributing to tighter exchange supply.
- Bitcoin lagged below $120,000 with weaker ETF demand and derivative resistance near $117,800, while analysts floated higher ETH targets — from $7,000 scenarios to $10,000–$20,000 — alongside cautions about leverage and near‑term pullbacks.