Key takeaways
Ethereum dances near its all-time high, despite the mixed signals from institutions. The market’s whimsical momentum and bullish sentiment hint at a grand finale of gains.
Ethereum [ETH] reaches fresh heights, even as institutional money seems to be making a graceful exit. 🎩✨
Outflows from spot ETH ETFs have been heavy, yet big names like BlackRock keep buying. There’s a striking divergence in sentiment: while some institutions are cashing out, other heavyweight players seem intent on staying, much like a comedy where one character exits stage left and another enters stage right.
ETH surges ahead
Ethereum traded at $4,737 at press time, just shy of its all-time high of $4,891 set back in November 2021, according to CoinMarketCap. 📈
The hourly chart highlighted an upward move (with Jerome Powell’s Jackson Hole speech being a key catalyst) followed by consolidation, so the bulls were defending the higher levels with the fervor of a knight guarding his castle. 🛡️
The RSI was at 62.8, indicating strong momentum but leaving some room before hitting overbought territory. It’s like a horse galloping towards the finish line, but not quite at full speed yet.
Meanwhile, the MACD showed waning bullish momentum as the histogram turned red. A bit like a comedian whose jokes are starting to fall flat, but he still has a few tricks up his sleeve.
If buying pressure persists, ETH could attempt another run at its historic peak, though short-term corrections remain likely given the recent volatility. It’s a rollercoaster ride, my friends! 🎢
Mixed signals from institutions
ETH is chasing new highs, but there’s more to it than what meets the eye. 🕵️♂️
On one hand, U.S. spot ETFs have been under pressure, with Ethereum ETFs recording a staggering 111k ETH in outflows. It’s like watching a play where the audience starts to leave, but the actors keep performing.
Yet, not all major players are retreating. Some are doubling down, much like a gambler who sees a winning hand and bets everything on it.
BlackRock recently purchased $233 million worth of ETH, showing long-term conviction in the asset. It’s a bold move, akin to a king staking his throne on a single battle. 🏰
Adding to the bullish narrative, Trump’s World Liberty fund also made a notable acquisition, spending $5.025 million USDC for 1,076 ETH at $4,670. It’s like a knight charging into battle, confident in his victory. 🛡️⚔️
Big names put their foot down
Amid the mixed institutional flows, one of crypto’s most influential voices remains firmly bullish on Ethereum. 🗣️
Since first declaring “$ETH = $5,000” back in December 2023, Arthur Hayes has actively swing-traded ETH through his public wallet, often selling only to buy back at higher prices as the token continued its ascent. It’s a dance of strategy and conviction, much like a chess match where each move is calculated. ♟️
Now, the Maelstrom CIO has reaffirmed his conviction, forecasting a monumental rally. In a recent Crypto Banter interview, Hayes argued that,
“the chart says it’s going higher, you can’t fight the market.”
He predicted that Ethereum could surge to $10,000-$20,000 before the end of this cycle. It’s a bold prediction, like a prophet foretelling the future, but will the market heed his words? 🌟
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2025-08-23 12:13