Ethereum ($ETH) has been trading within an ascending channel since recovering $2,000 and has remained above this level for 12 consecutive days. At the time of writing, the altcoin is trading at $2,340, down 2.02% on the daily chart.
As the market stabilizes above $2,000, institutional investors are pumping more money into altcoins. Institutional demand is particularly driven by US investors, as the Coinbase Premium Index continues to rise for the second consecutive week.
This will be the longest period in 2026 and is comparable to sustained demand levels recorded between October and November 2025.
bitmine adds 100k $ETH $233 million due to increase in financial institutions
Through institutions that are actively accumulating $ETHBitmine is currently leading this race. According to Lookonchain, Bitmine purchased an additional $100,000. $ETH Worth $233.7 million.
The purchases were made using three wallets that received tokens from BitGo. When you purchase, you get a total of Bitmine $ETH Number of shares held reaches 4.9 million shares $ETHworth $11.5 billion after accumulating over 315,000 $ETH In the last 30 days.
Despite continued accumulation during the recent downturn, Bitmine’s holdings have declined by 36%, leaving it with $6.3 billion in unrealized losses.
Bitmine’s continued accumulation reflects the company’s confidence and suggests it is not too worried about short-term losses.
Beyond Bitmine, the Ethereum Spot ETF has remained bullish for nearly two weeks. $ETH Spot ETFs have recorded net inflows since April 9, reflecting sustained demand for the asset.
At the time of writing, spot inflows remained at approximately $43 million. However, his total net worth decreased from $14.2 billion to $13.6 billion.
Historically, sustained institutional demand has strengthened $ETH price action. For example, in mid-2025, $ETH The amount rose from $2.5 million to $3.7 million as demand from institutional investors continued.
Could demand push Ethereum higher?
nevertheless $ETH After the retrace from $2.4,000, the altcoin remains structurally bullish and is primarily supported by institutional demand.
The altcoin Momentum Bias Index shows that although it is flat, the bulls remain active in the market. The upside has softened slightly, but the bears have not yet regained control of the market.
The Relative Strength Index (RSI) further validated these market conditions. The RSI dropped to 54, but the signal line remained at 59.
This level suggests that while sellers have returned strongly, buyers also remain active and continue to accumulate. Therefore, the next market direction will depend on which side dominates the other.
If institutional demand is maintained, $ETH We will likely recover from the decline, reverse $2.4,000, and aim for a jump towards $2,570. However, if the current weakness continues, the altcoin could fall to $2,250.
Final summary
- Bitmine purchased 100,000 $ETH Despite an unrealized loss of 36%, it is worth $233 million.
- Ethereum remains structurally bullish, and institutional demand could push the price towards $25,000.
