Eth’s $3K Comeback?! 🚀

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Ah, Ethereum. It has once again flitted above the three-thousand mark, a small victory in the grand, often perplexing drama of capital. As if summoned by the gentle hum of algorithms and the hushed whispers of whale wallets. It’s a momentary reprieve, wouldn’t you agree? A puff of smoke before the inevitable winter… or perhaps not? One can never truly be certain with these digital phantoms. 🧐

  • The price, it dances, reclaiming lost ground while the open interest swells, though trading volume seems to have gone for a quiet afternoon stroll.
  • These newfangled exchange-traded funds continues to sink money into the ether, for four days running. A curious phenomenon, isn’t it?
  • The charts, those enigmatic scribbles, hint at a recovery. Early signs, mind you. Like a faint heartbeat in a crowded room.

And so, it trades at $3,037, a gain of 3.5% today. But let’s not get carried away. Only a month ago, it tumbled almost 40%, a fall from grace that left it 38% short of its former glory-August’s fleeting $4,946. All a bit dramatic, if you ask me. 🎭

The volume of trading is at $21 billion, just a tad less than yesterday. The futures, however, offer a different tale. A drop of 10% to $76 billion, while open interest has seen a rise of 6.59% to $37 billion. A curious dance of supply and demand, signifying, apparently, ‘fresh momentum.’ Such grand pronouncements for fleeting numbers.

The Engine of Ascent: ETFs and Corporate Hoarding

Those spot Ethereum ETFs continue their steady work, making another $78 million in net inflows. Four days in a row! A cumulative $12 billion has been invested. The issuers must purchase the Ethereum to back their shares. A peculiar system, isn’t it? A self-fulfilling prophecy of sorts.

Beyond the ETFs, there’s Tom Lee’s BitMine, amassing a hoard of 69,822 ETH last week. Worth a cool $197 million, bringing their total trove to around 3.63 million ETH. A fortune in digital ether. A grand gamble, or simply a shrewd observation?

Tom Lee(@fundstrat)’s #Bitmine bought 69,822 $ETH($197.25M) last week and currently holds 3,629,701 $ETH($10.25B).

The average buying price is ~$3,997 and #Bitmine is sitting on an unrealized loss of $4.25B.

– Lookonchain (@lookonchain) November 24, 2025

And the whales-those silent behemoths-are also accumulating. Wallets holding 10,000-100,000 ETH now control over 21 million ETH. A record, they say. The largest holders, those with over 100,000 ETH, have added another 4.3 million in recent months. Binance reserve dropped to 3.76 million, meaning coins are moving towards ‘long-term storage.’ One wonders what secrets these digital vaults hold…🤔

All this, naturally, reduces the supply, creating a fragile sense of stability. Like trying to build a sandcastle against the tide…but there is always a chance it will survive.

A Technical Glimpse

The daily chart…a constellation of lines and curves. The price, it seems, is straining against the middle band of something called a Bollinger setup. After lingering by the lower band for weeks. Supposedly, this marks ‘exhaustion in a sell-off.’ Who knew charts could be so dramatic?

Momentum is purportedly ‘improving.’ The relative strength index is at 41.9, and the MACD has crossed into a ‘mild buy zone.’ Such precise language for such an imprecise world. It’s trying to build strength, yes… but from ‘oversold territory.’ One has to ask what the benchmark is?

The price now stands just above its 10-day moving average. One has to hold the price above $3,000, or it could return back to the $2,850, where the buyers showed up earlier this week. A delicate balance, wouldn’t you say? 🙏

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2025-11-27 08:43