Ethereum in the shadows: BlackRock and whales are playing a big bet

Ethereum is at a pivotal moment. The current price is at $3.11K, fluctuating within a narrow but tense range. Looking at this movement, it’s not random—it’s the result of a strategic game plan that major institutions are deploying from behind the scenes.

Institutions are accumulating despite market pressure

This is the most interesting part: while Ethereum remains under pressure in the spot market, ETF funds are continuously pouring money in. In just one day, Ethereum ETFs attracted $57.6 million—almost entirely from BlackRock with $56.5 million.

This clearly indicates one thing: major financial authorities see the current price as an opportunity, not a danger. They are not naive speculators—they are calculating coldly.

Whales are setting traps in two key zones

On-chain data paints a clearer picture. Whale clusters have formed at two strategic levels:

• 2.8 million ETH around $3,150: This zone has become a protective barrier
• 3.6 million ETH around $2,800: A deeper layer of support

These positions are not meaningless. They show that whales are not just buying once—they are building a fortress. From December 11 to 12, they added another 90,000 ETH, roughly $293 million at current prices. That’s a significant move.

Tom Lee, chairman of Bitmine, recently stated that Ethereum at $3,000 is “the most undervalued asset on the market.” His company bought 100,000 units within a week. This is not a random campaign—it’s a signal from insiders who know the game inside out.

The $3,000-3,100 zone: the boundary between accumulation and breakout

Ethereum is currently stuck in a magic zone between $3,000 and $3,100. Technical analysts see this as the final phase of the Wyckoff structure—a typical accumulation stage before a breakout.

Historical price data provides evidence:

• The $3,100 level was previously a rejection zone
• It then became support
• There was a false breakout at $3,470

This oscillation indicates a highly dynamic market. Worryingly, open interest in futures contracts continues to rise—meaning a lot of leverage, but little real market confidence.

Cup and Handle: a different plan

On the chart, Ethereum forms a “cup and handle” pattern—one of the strongest bullish formations. The bottom has formed, as has the handle. But the key is a breakout at $3,486.

The market is only 7% away from this level. If a breakout occurs, the next target is $4,779—up 50% from the current level. Along the way, resistance levels are at $3,712 and $4,249, but these paths remain open.

Conversely, if Ethereum falls below $3,152, the pattern will be invalidated. Below $2,620, the entire bullish scenario will evaporate.

2026: Will the crypto market explode?

Traders are talking about 2026 as a year of new capital influx. Expected rate cuts will unlock billions of dollars from institutions. The crypto industry is ready.

But the real question remains: can Ethereum keep up? Currently, ETH is confined within key levels. Signals from major agencies are positive, but opportunities are shrinking. The crypto market is walking a tightrope, and Ethereum knows it.

The numbers you need to remember

• Current ETH price: $3.11K (+0.09% in 24 hours)
• ETF inflow: $57.6 million in one day (mainly from BlackRock)
• Whale accumulation: 90,000 ETH in two days (about $293 million)
• Main support zones: $3,150 (2.8 million ETH) and $2,800 (3.6 million ETH)
• Breakout target: $3,486 (only 7%)
• Bullish target: $4,779 if a breakout occurs