- Ethereum reclaimed $2,700 with a 5.63% daily gain, last seen in late February.
- Exchange reserves dropped to 19.1 million ETH, suggesting rising demand and a brewing supply squeeze.
Ethereum [ETH] recently regained the $2,700 level, a price it last traded at on the 24th of February. This followed a notable 5.63% rally in the past 24 hours.
AMBCrypto found that this move into the $2,700 range runs counter to the bets of traditional investors, who were selling. This divergence has created room for a potentially stronger rally.
Traditional investors backing out might be a good sign for ETH
According to LookOnChain, spot ETH ETFs saw net outflows of $10.83 million over the past 24 hours. This means traditional investors offloaded more ETH than they bought, likely securing profits after recent gains.

Source: LookOnChain
However, the altcoin has continued trending higher, likely supported by institutional purchases made during this same period.
One notable institutional investor contributing to the bullish momentum is Abraxas Capital.
This group purchased 33,482 ETH worth $84.7 million within the past 24 hours.
In fact, over the past week, Abraxas accumulated 211,030 ETH, valued at $477.6 million. Moves like this often instill confidence and help sustain rallies.
If the Netflow of Spot ETH ETFs turns positive, it would reinforce the current upward movement driven by large institutional investors, potentially pushing ETH above $3,000.
More confluences are emerging
According to CryptoQuant, spot traders currently maintain a neutral position in the market. This indicates a level of balance, even as prices continue to rise.
Spot retail activity remains in the grey zone, albeit trending slightly upward, with a 0.17% gain.

Source: CryptoQuant
If this trend continues, spot traders may not drive the next ETH upswing. With that in mind, AMBCrypto examined other market signals.
However, Exchange Reserve data told a different story. ETH held on exchanges dropped to 19.1 million, confirming reduced sell pressure.
This suggests strong demand, with traders accumulating ETH from exchanges and causing a gradual supply squeeze.

Source: CryptoQuant
At the same time, the Fund Market Premium, which reflects institutional flows like Grayscale’s, remained mildly negative at -0.3. This indicates room for further growth, particularly if these institutional players step back in.
Overall, current market dynamics indicate Ethereum could rally further if institutional, traditional, and spot traders re-engage.
With renewed participation, ETH has a strong chance of breaking above $3,000 in the near term.
- Ethereum reclaimed $2,700 with a 5.63% daily gain, last seen in late February.
- Exchange reserves dropped to 19.1 million ETH, suggesting rising demand and a brewing supply squeeze.
Ethereum [ETH] recently regained the $2,700 level, a price it last traded at on the 24th of February. This followed a notable 5.63% rally in the past 24 hours.
AMBCrypto found that this move into the $2,700 range runs counter to the bets of traditional investors, who were selling. This divergence has created room for a potentially stronger rally.
Traditional investors backing out might be a good sign for ETH
According to LookOnChain, spot ETH ETFs saw net outflows of $10.83 million over the past 24 hours. This means traditional investors offloaded more ETH than they bought, likely securing profits after recent gains.

Source: LookOnChain
However, the altcoin has continued trending higher, likely supported by institutional purchases made during this same period.
One notable institutional investor contributing to the bullish momentum is Abraxas Capital.
This group purchased 33,482 ETH worth $84.7 million within the past 24 hours.
In fact, over the past week, Abraxas accumulated 211,030 ETH, valued at $477.6 million. Moves like this often instill confidence and help sustain rallies.
If the Netflow of Spot ETH ETFs turns positive, it would reinforce the current upward movement driven by large institutional investors, potentially pushing ETH above $3,000.
More confluences are emerging
According to CryptoQuant, spot traders currently maintain a neutral position in the market. This indicates a level of balance, even as prices continue to rise.
Spot retail activity remains in the grey zone, albeit trending slightly upward, with a 0.17% gain.

Source: CryptoQuant
If this trend continues, spot traders may not drive the next ETH upswing. With that in mind, AMBCrypto examined other market signals.
However, Exchange Reserve data told a different story. ETH held on exchanges dropped to 19.1 million, confirming reduced sell pressure.
This suggests strong demand, with traders accumulating ETH from exchanges and causing a gradual supply squeeze.

Source: CryptoQuant
At the same time, the Fund Market Premium, which reflects institutional flows like Grayscale’s, remained mildly negative at -0.3. This indicates room for further growth, particularly if these institutional players step back in.
Overall, current market dynamics indicate Ethereum could rally further if institutional, traditional, and spot traders re-engage.
With renewed participation, ETH has a strong chance of breaking above $3,000 in the near term.
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