Overview
- ETH climbed to roughly $4,945–$4,955 on Sunday and hovered near $4,900 after Powell’s Jackson Hole remarks rekindled rate‑cut expectations.
- U.S. spot ETH ETFs recently logged their first $1 billion single‑day net inflow and added about $338 million on Aug. 23, outpacing Bitcoin funds that saw outflows this week.
- BitMine expanded its position to about 1.5 million ETH worth more than $7 billion, including a fresh $45 million buy, while SharpLink holds over $3.2 billion in ETH.
- On‑chain trackers flagged capital rotation from BTC to ETH, with a long‑time Bitcoin whale selling another 4,000 BTC to amass large ETH spot and leveraged long positions as ETH/BTC broke multi‑year resistance.
- Derivatives risk rose as CryptoQuant’s leverage‑driven pump signal flashed repeatedly this month, with analysts warning of near‑term volatility even as some project targets such as $5,400 to $7,000.