Ethereum Edges Closer to $3K as Institutional Demand Surpasses Pre-Crash Levels
Ethereum's price is showing all signs of hitting $3K next. From a technical perspective, its expected return on investment (ROI) by the end of the quarter is over 70%, making it the strongest Q3 performance in its history.
This surpasses Bitcoin's return, setting a strong benchmark for the final quarter of the year. Short-term investors are closely watching Ethereum's momentum as a result.
The chart shows that Ethereum Open Interest has touched $30 billion for the first time since October 2025, indicating nearly 12 million Ethereum in exposure and an average Long/Short Ratio of 1.54 across various exchanges.
This positioning appears to be strategic rather than random. BlackRock's two Ethereum ETFs have acquired over $1 billion worth of Ethereum over the past 20 trading days, sending total Ethereum ETF flows back to pre-October crash levels and highlighting a clear recovery in institutional demand.
A mysterious whale has recently rotated around $104 million into Ethereum, setting the stage for another Q3-style Ethereum/BTC breakout. However, this positioning may be running ahead of the technical setup as Ethereum's price needs to break above 0.03 to confirm stronger momentum.