Ethereum Price Prediction: Can $1B in ETF Inflows Push ETH to $6K?

Ethereum (ETH) price has pushed past $3,300 and continues to gain strength, and prediction to higher levels is being discussed among market players.

After a wave of ETF buying and shrinking exchange reserves, many traders are asking: Is $6,000 the next big move in this latest ETH price prediction?

The biggest altcoin is already up 9% day-on-day, but things are steadily looking more bullish, per the metrics and more so, the price chart.

Ethereum Supply Drops as Institutions Buy Up

One of the strongest signs of a growing market is falling supply on exchanges. In simple terms, when less Ethereum sits on exchanges, there’s less ETH available for people to quickly sell. That often supports a price rally.

Right now, exchange reserves of Ethereum are down to nearly the same level seen in early September 2024.

Back then, the ETH price was near $2,150 just before it launched into a rally that took it over 90% higher in 101 days.

As of today, reserves are again shrinking, showing traders and institutions are pulling their ETH off exchanges instead of selling it.

This drop in supply is important because it means Ethereum (ETH) is getting harder to buy.

Fewer coins on exchanges often signal that big investors are moving their ETH into long-term wallets.

This reduces panic selling and increases scarcity, which can push the price higher over time. We’ve seen similar setups before major rallies in the past.

Also, the exchange reserve dip looks even better when seen in parallel with the increasing exchange inflows. This shows supply is being quickly wiped out by big names.

This supply crunch is happening alongside huge ETF demand. BlackRock alone bought nearly $500 million in ETH.

Other ETFs joined in, bringing the total to over $1 billion in Ethereum (ETH) purchases in a single day. That’s not just a number; it’s a sign that big investors are betting long-term on Ethereum.

OTC Desks Are Dry, Showing Huge Off-Market Demand

Wintermute, one of the largest over-the-counter (OTC) desks for crypto, now holds almost no Ethereum left to sell.

OTC desks are where large buyers go to buy crypto without moving the price on public exchanges.

If there’s no ETH available there, it likely means large funds have already bought everything they could behind the scenes.

SharpLink Gaming is another clear example of this big-money trend. In just one day, the firm increased its Ethereum holdings from $892 million to $965 million.

That’s a $73 million jump, and it syncs perfectly with the ETF buying spree. When big players are loading up and not selling, it signals long-term confidence in Ethereum (ETH) and hence the price prediction to higher levels looks plausible.

Ethereum Price Prediction: $6,036 Target in Sight

The ETH price has already climbed over $3,300 and is showing strong signs of a continued uptrend.

Using a trend-based Fibonacci extension from the April low to the swing high of almost $2,870 and then to the retraced value of $2,123, we get some critical projections.

The next key resistance per the Ethereum (ETH) price prediction sits at $3,618, and if broken, a move towards $4,500 looks likely.

This level is based on chart math that helps traders guess how far a trend might continue.

The 2.618 extension often marks a potential peak if momentum stays strong, which is over the $6,000 mark.

Ethereum’s price move was slow but steady, unlike the sharp spikes we often see in hype-driven markets.

The lack of heavy exchange inflows shows there’s no rush to sell. That makes this rally more stable.

However, it may still not be a straight path to the top just yet. If the Ethereum (ETH) price falls below $2,870, the 0.5 Fibonacci level, it could signal that the bullish momentum is fading.

A drop below $2,870, especially if more ETH starts flowing back onto exchanges, would be a warning sign that sellers might take control.