Table of Contents:
Ethereum Supply at 9-Year Low: Implications for the ETH Price
According to BTC-ECHO, the amount of Ethereum held on crypto exchanges has dropped to 14.9 million ETH, marking a 9-year low not seen since 2016. In April, exchange balances were still above 18 million ETH, meaning more than three million ETH have left exchanges since then. This ongoing negative net position change, as measured by Glassnode, indicates that since early 2021, there have been regular net outflows of Ethereum, sometimes in the millions, with a particularly strong decline in the second and third quarters of 2025.
Investors are increasingly moving their ETH holdings to self-custody, DeFi, or staking, reducing the directly available ETH supply on the market. This supply squeeze, combined with rising demand, has contributed to an 11% increase in ETH over the past 30 days. At the time of reporting, Ethereum is trading at $4,190. The reduction in supply is also attributed to Ether ETFs and new treasury companies that have recently withdrawn large amounts of ETH from the market.
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| ETH on Exchanges | April 2025 | August 2025 |
|---|---|---|
| Amount (in millions) | 18+ | 14.9 |
- ETH price up 11% in the last 30 days
- Current price: $4,190
- Exchange supply at lowest since 2016
Summary: The ongoing outflow of ETH from exchanges, driven by self-custody, DeFi, staking, and institutional demand, is reducing available supply and supporting price growth. (Source: BTC-ECHO)
Ethereum’s Battle for $5,000: Consolidation and New Investment Alternatives
Wallstreet Online reports that Ethereum recently surged to $4,791, nearly reaching its all-time high, before correcting to around $4,196. The loss of the crucial $4,200 support level poses a challenge for bulls. Regaining this level could trigger a V-shaped recovery and a renewed attempt at the $4,800 mark. Failure to reclaim $4,200 could see the correction extend to $4,000 or even $3,800, signaling a more negative outlook.
Should unexpected positive developments occur, such as macroeconomic or political shifts, or crypto-specific catalysts, Ethereum could break through its all-time high and potentially rally well above $5,000. However, with short-term upside limited and technical uncertainty, many investors are turning to newer cryptocurrencies with higher growth potential. The meme coin SNORT, for example, has raised over $2.7 million in its presale, offering staking yields up to 136% per year and plans for a Telegram trading bot on the Solana Virtual Machine.
| Recent High | Current Support | Potential Correction | Presale Funding (SNORT) |
|---|---|---|---|
| $4,791 | $4,200 | $4,000 - $3,800 | $2.7 million |
- SNORT presale price: ~10 cents
- Staking yield: up to 136% per year
Summary: Ethereum faces a technical battle at $4,200, with potential for both recovery and further correction. Meanwhile, investor interest in high-growth alternatives like SNORT is rising. (Source: Wallstreet Online)
Correction Mode for Bitcoin and Ethereum: Awaiting Key US Economic Signals
Der Aktionär highlights that both Bitcoin and Ethereum have entered a correction phase after recent rallies. Bitcoin recently traded at around $113,200, down nearly 3%, while Ethereum dropped over 5% and is now struggling to hold the $4,200 level. Vincent, CIO at Kronos Research, attributes the decline to profit-taking after recent highs and the unwinding of leveraged positions, increasing selling pressure. He notes that holding $4,200 is crucial for Ethereum; a break below could open the way to $3,900.
Additional pressure comes from the ETF front, as both Bitcoin and Ethereum ETFs have seen net outflows after strong initial inflows. The market is now focused on the upcoming speech by Fed Chair Jerome Powell at the Jackson Hole meeting, which could determine the short-term direction. The market expects a rate cut in September, and any deviation from this expectation could trigger sharp moves. Despite the volatility, experts view the current correction as a healthy consolidation after a strong uptrend.
| Bitcoin Price | Ethereum Price | Key Support (ETH) | Potential Downside (ETH) |
|---|---|---|---|
| $113,200 | Below $4,200 | $4,200 | $3,900 |
- ETF inflows have turned to outflows for both BTC and ETH
- Jackson Hole speech by Fed Chair Powell is the key event
“The most important short-term event is Powell’s speech in Jackson Hole this Friday,” said Peter Chung, Head of Research at Presto Research.
Summary: Bitcoin and Ethereum are consolidating after strong rallies, with the market awaiting crucial signals from the US Federal Reserve. (Source: Der Aktionär)
Ethereum Price Correction: Technical Analysis and Key Support Levels
BeInCrypto reports that after peaking at $4,792, Ethereum has fallen by about 12% over the past five days. The price is now in a downward channel, with the current support zone between $4,100 and $4,400. The MACD histogram is ticking lower, and the MACD lines have crossed bearishly on the daily chart, while the EMAs still show a bullish golden crossover. The RSI remains neutral, giving neither bullish nor bearish signals.
If the support zone fails, Ethereum could correct to the 0.382 Fibonacci support at around $3,482, and if that breaks, the next significant support is at $2,650. Despite the recent drop, Ethereum has gained about 246% over the past five months, maintaining a strong uptrend as long as it stays above the golden ratio at $2,650. Against Bitcoin, ETH has rebounded from the 0.01615–0.02275 BTC support zone, rising over 123% and surpassing the 0.382 Fib resistance at 0.034 BTC. The next target could be the golden ratio at 0.045 BTC.
| Recent High | Current Drop | Key Support Zones | 5-Month Gain |
|---|---|---|---|
| $4,792 | 12% | $4,100–$4,400; $3,482; $2,650 | 246% |
- MACD and EMAs show mixed signals
- RSI remains neutral
- ETH/BTC next resistance: 0.045 BTC
Summary: Ethereum is in a technical correction, with key support at $4,100–$4,400 and further downside possible if these levels break. The long-term uptrend remains intact above $2,650. (Source: BeInCrypto)
Whale Sells Ethereum for Chainlink: Market Implications
Börse Online reports that a major crypto whale recently sold over $22 million worth of Ethereum, equivalent to about 4,800 ETH, and switched to Chainlink, acquiring nearly one million tokens. The whale is known for well-timed trades, having exited LUNA before its crash and selling Shiba Inu at its 2021 peak. This move is seen by some as a signal that the whale sees limited upside for ETH and greater potential in Chainlink.
However, not all analysts agree that Ethereum’s upside is exhausted. Tom Lee, a strategist at Fundstrat, remains bullish on Ethereum’s future prospects. The article notes that Ethereum has recently seen significant profit-taking after a strong rally, but some experts still see further growth potential.
| ETH Sold | Value | Chainlink Acquired |
|---|---|---|
| 4,800 ETH | $22 million | ~1 million LINK |
- Whale has a history of successful market timing
- Analysts remain divided on ETH’s future potential
Summary: A prominent whale’s switch from Ethereum to Chainlink may signal shifting market sentiment, but some analysts remain optimistic about ETH’s prospects. (Source: Börse Online)
BitMine Increases Ethereum Holdings, Price Under Pressure
According to DE.COM, Ethereum fell by 3% on Monday after BitMine (BMNR) announced it had increased its holdings by 373,000 ETH, worth about $1.7 billion. BitMine Immersion, a treasury manager focused on Ethereum, now holds 1.52 million ETH, valued at approximately $6.6 billion. This purchase followed BitMine’s application to the US SEC to expand its stock offering by $20 billion to acquire even more ETH. BitMine claims to be the world’s largest ETH treasury holder, second only to Strategy (formerly MicroStrategy) among global Digital Asset Treasuries.
Since June, treasury-focused companies have collectively acquired nearly 3 million ETH. Investment products tied to Ethereum have also seen record inflows, with CoinShares reporting $2.87 billion in net inflows last week, almost entirely from US spot ETFs, which alone saw $2.85 billion in weekly inflows. Despite these bullish signals, ETH is down 3% after failing to break above $4,500, triggering $241 million in ETH futures liquidations in the past 24 hours, including $191.63 million in longs and $49.68 million in shorts. The RSI and Stochastic Oscillator remain above neutral but are trending downward, indicating waning bullish momentum.
| BitMine ETH Purchase | Total Holdings | Value | Recent ETH Product Inflows |
|---|---|---|---|
| 373,000 ETH | 1.52 million ETH | $6.6 billion | $2.87 billion (last week) |
- US spot ETFs: $2.85 billion inflow in one week
- ETH price down 3% after failing to break $4,500
- $241 million in ETH futures liquidations in 24 hours
“We remain convinced that Ethereum is one of the biggest macro trades of the next 10–15 years,” said Thomas Lee, Chairman of BitMine and CIO of Fundstrat.
Summary: BitMine’s massive ETH accumulation and record ETF inflows highlight institutional demand, but short-term price pressure persists after failing to break key resistance. (Source: DE.COM)
Sources:
- Ethereum-Schock an Börsen: Die Bedeutung für den ETH-Kurs
- Ethereum im Konsolidierungskampf – Kann ETH die $5000-Marke bis September erreichen?
- Bitcoin und Ethereum im Korrekturmodus: Dieser Termin entscheidet
- Ethereum Kurs leitet Korrektur ein – wie tief fällt ETH jetzt?
- Krypto-Wal verkauft Ethereum: Auf diesen Coin setzt er stattdessen
- Ethereum: BitMine baut Bestände massiv aus, Kurs unter Druck
