- Over 300,000 ETH were withdrawn from exchanges in just two weeks, indicating a possible long-term holding strategy.
- The Ethereum price was trading above key support levels, with growing speculation about a move toward $8,000–$20,000 in the next market cycle.
Ethereum (ETH) has seen a major shift in recent days. Over 300,000 ETH have been pulled out from crypto exchanges in just two weeks. This move is garnering attention, especially among traders who are now closely watching out for what might come next.
Ethereum Withdrawals Raise New Questions About Price Direction
It is worth noting that the largest altcoin, Ethereum, has become the focus of market discussions after the sale of more than 300,000 ETH. This is worth about $800 million and was withdrawn from exchanges.
The data was shared by prominent crypto analyst Ali on X, with a chart showing a clear drop in supply held on platforms. This kind of withdrawal often signals that holders are moving their coins into long-term storage, which reduces selling pressure.
CryptoQuant, a market data analytics firm, looked at similar events in the past. In 70% of those cases, Ethereum’s price went up afterward. That pattern is now part of the conversation. At the same time, Glassnode reports a 15% drop in ETH held on exchanges since mid-year. This supports the idea that large players may be building positions.
Another reason for the growing interest could be Ethereum’s next upgrade, known as the Fusaka upgrade. It is expected to improve the network’s handling of traffic and may help alleviate centralization issues.
Meanwhile, as highlighted in our previous news brief, Ethereum has experienced a dramatic surge in the past week. This is increasing by 20% to now trade just 26% below its all-time high.
Eyes on Ethereum as Market Looks for Clarity
Despite the rising optimism, not everyone is convinced. Some market watchers pointed to global conditions and regulatory concerns that could affect momentum. Still, demand seems steady, especially in the U.S., where the Coinbase Premium Index remains in positive territory.
Ethereum is now trading at $3,561.10. The current market cap is $429.93 billion, and daily volume has reached $41.8 billion. Price recently broke above a key range between $3,200 and $3,400, and is holding above important moving averages. Support is firm around the $2,940 mark.
It is essential to add that Ethereum price Forecasts are starting to stretch further. Some predict Ethereum will reach $8,000 by early 2026. A few well-known analysts are even discussing $15,000 to $20,000 in the next cycle, based on how the market has behaved in past rallies.
For now, Ethereum’s sudden surge in withdrawals has sparked genuine interest. What happens next could set the tone for the rest of the month, quarter, and year. In another positive development, as discussed in our previous article, the Ethereum Foundation has recently announced the start of the protocol’s transition to full zero-knowledge proof integration with a long-term price outlook.
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