Ethereum's ETF inflow in August exceeds 4 billion USD! Whales are frantically accumulating 1.44 million ETH, aiming for a new price high?

In August, Ethereum (ETH) became the market focus driven by both institutions and whales. The latest data shows that net inflows for ETH ETFs exceeded $4 billion that month, far surpassing the $800 million net outflow of Bitcoin (BTC) ETFs. At the same time, whales accumulated 1.44 million ETH in just one month, indicating that long-term capital is entering the market in large quantities. However, despite the strong capital flow, the price of ETH is still fluctuating around the $4,500 support level, with market sentiment showing a subtle tug-of-war between bulls and bears.

ETF Fund Frenzy: Institutional Funds Clearly Favor ETH

According to SoSoValue data, since the beginning of August, ETH ETF has attracted a net inflow of $4 billion, recording positive inflows for five consecutive days, with $309 million pouring in on Wednesday alone.

In contrast, BTC ETF saw a net outflow of 800 million USD in the same month, indicating that institutional investors may be shifting some of their allocations towards ETH.

Bitwise Chief Information Officer Matt Hougan stated on X: "The competition for ETH is currently very intense."

Data released by Bloomberg analyst James Seyffart shows that the main institutional holders of the ETH ETF include Wall Street giants such as Goldman Sachs, Jane Street, Millennium Management, and DE Shaw.

Whale Accumulation: 1.44 million ETH purchased in August

(Source: CryptoQuant)

On-chain data shows that large holders holding between 10,000 to 100,000 ETH bought more than 340,000 ETH in the past three days, bringing the total amount bought in August to 1.44 million.

In addition, large vaults such as BitMine Immersion (BMNR) and SharpLink Gaming (SBET) will expand their holdings to 3.3 million ETH (approximately $15 billion) within three months.

VanEck CEO Jan Van Eck even referred to ETH as the "Wall Street token," believing that its dominance in the stablecoin market will drive future adoption: "If I want to send you a stablecoin, your bank has to find a way to handle it, or you will seek other institutions to do so. And the winner will be Ethereum, or chains based on EVM."

Price Trend: $4,500 Support Facing Test

(Source: Trading View)

As of August 29, ETH is priced at $4,460, slightly lower than the previous day, and is oscillating between the 14-day EMA and the $4,500 support level.

Futures liquidation: In the past 24 hours, the ETH futures liquidation amount reached 88 million USD (long positions 63 million USD, short positions 25 million USD)

Key technical level: If it breaks below the 14-day EMA and loses the 4,000 USD level, it may test the 50-day SMA (approximately 3,470 USD).

Upward conditions: Must break through and remain stable above historical high resistance to initiate a new round of increase.

The Relative Strength Index (RSI) and the Stochastic Oscillator (Stoch) are both slightly above the neutral zone, indicating that the market is still in a wait-and-see mode.

Short-term and Long-term Outlook

In the short term, the price of ETH may continue to consolidate around $4,500, waiting for the cumulative effect of ETF funds and Whale buying to ferment.

In the long term, if institutional funds continue to flow in, and Whales keep accumulating, breaking through historical highs, ETH is expected to initiate a new bull market, challenging the $5,000 mark or even higher.

Conclusion

Data from August clearly shows that ETH is becoming the preferred target for institutions and long term funds. The inflow of ETFs and the accumulation by whales provide solid financial support, but a breakthrough of technical resistance is still needed in the short term to confirm a new upward trend. For investors, $4,500 will be a key price level to observe the balance of bullish and bearish forces for ETH.