Ethereum Still Below $3000 as Institutional Demand Favors Bitcoin
The Ethereum price has rebounded sharply in recent days but still hasn't reached the $3000 mark, despite the Bitcoin price hitting $82,000. This divergence can be seen in the latest ETF flows, whale activity, and on-chain data.
ETF inflows have been a major factor in the crypto market, with institutions influencing sentiment and prices. In this case, Bitcoin's ETFs have attracted nearly a billion dollars since the start of the month, supporting its price above $82,000. Ethereum's ETF activity has shown signs of strength, but it has been less consistent.
Ethereum's on-chain data is also not confirming the recovery, with daily active addresses decreasing since August 9th and remaining below 500K this month. This suggests that network participation is not accelerating at the same pace as the price increase.
The whale activity in Ethereum has intensified over the past few days, but it does not necessarily mean accumulation. Large ETH movements can represent exchange transfers, institutional custody movements, or actual buying and selling.