Ethereum Momentum Builds on Whale Buys and ETF Inflows, $7K Target in Sight

• Ethereum whale activity has surged, with transactions over $1 million hitting three-week highs on October 29, per Santiment data, coinciding with ETH rebounding toward $4,000.

• ETF net inflows reached $379.9 million this week, boosting total assets to $27.66 billion and marking a recovery after prior outflows.

• The Fusaka upgrade, now active on Hoodi, promises scalability enhancements, lower gas fees, and parallel execution, with mainnet launch scheduled for December 3.

Ethereum $7K target gains traction amid whale buys, ETF inflows, and Fusaka upgrade. Discover key drivers and what’s needed for ETH breakout. Stay informed on crypto trends today.

What is Driving Ethereum Toward a $7,000 Target?

Ethereum is experiencing renewed optimism as multiple positive developments align, positioning it for a potential rally to $7,000. Key catalysts include significant whale accumulation, robust ETF inflows, and advancements in the Fusaka network upgrade, all contributing to stronger market sentiment and technical setups reminiscent of past rallies.

How Are Whale Activities Influencing Ethereum’s Price Momentum?

Whale transactions in Ethereum have intensified, highlighting growing confidence among large holders. On October 29, Santiment reported a sharp increase in transactions exceeding $1 million, reaching one of the highest levels in over three weeks. This surge followed Bitmine’s substantial $113 million purchase, which has spurred broader accumulation trends. Such activity often precedes price upticks, as institutional players reinforce support levels around current trading ranges near $4,000. Data from Santiment indicates that these large-scale moves align with ETH’s recent rebound, suggesting sustained buying pressure could propel the asset higher if volumes continue to rise. Experts note that whale involvement typically stabilizes the market during consolidation phases, providing a foundation for breakouts.

Ethereum’s whale transactions surged following Bitmine’s recent $113 million purchase, so accumulation is at a high!

Source: X

This coincided with ETH’s rebound toward $4,000 — institutional buying could be reinforcing support around press time levels. If this trend continues, it may provide the boost needed for Ethereum to run faster.

Source: Santiment

Frequently Asked Questions

What Recent ETF Inflows Are Supporting Ethereum’s Growth?

Ethereum spot ETFs recorded $379.9 million in net inflows for the week, elevating total assets under management to $27.66 billion, as reported by SoSoValue. This marks a shift from recent outflows and underscores renewed institutional commitment, potentially fueling price stability and upward momentum in the near term.

Source: SoSoValue

How Will the Fusaka Upgrade Impact Ethereum’s Network?

The Fusaka upgrade, now deployed on the Hoodi test network, aims to boost Ethereum’s scalability by enabling parallel execution and reducing gas costs. Scheduled for mainnet on December 3, it will enhance rollup efficiency, helping the network handle higher transaction volumes while remaining competitive in the blockchain space.

ethereum

This rebound followed two weeks of outflows and was in tandem with excitement around the Fusaka upgrade, now live on the Hoodi test network. With the mainnet activation set for the 3rd of December, the upgrade is said to enhance scalability, reduce gas costs, and enable parallel execution. These are all key steps toward improving rollup efficiency and maintaining network competitiveness ahead of the next market cycle.

Key Takeaways

• Whale Accumulation Strengthens Support: Bitmine’s $113 million ETH purchase and a spike in large transactions signal robust buying interest, potentially driving prices above current consolidation levels.
• ETF Inflows Indicate Institutional Confidence: With $380 million in weekly net inflows, Ethereum ETFs are recovering, pushing total assets to over $27 billion and supporting long-term growth.
• Fusaka Upgrade Bolsters Fundamentals: Live on testnet and set for mainnet in December, this update will improve scalability and efficiency, positioning Ethereum for sustained adoption.

ETH to $7K if…

Source: X

ETH traded near $4,000 inside a tight consolidation box at press time, with volume at 25.8K. This is similar to May’s pre-rally structure posted by analyst MaxCrypto.

Source: TradingView

The momentum was neutral: RSI at 47 and CMF -0.06, indicating tepid buying pressure. For a $7K run to materialize, price needs a proper break above the box with rising daily volume, CMF flipping positive, and continued ETF inflows/whale accumulation (Bitmine’s $113 million buy helps). Failure to break would likely retest the lower support band and invalidate the steep upside projection. The setup is plausible, not guaranteed.

Ethereum [ETH] is finding good momentum. A major purchase by Bitmine, ETF inflows, and developments on the Fusaka front are causing optimism just as analysts eye a $7,000 target. Can ETH turn this alignment into a breakout?

Conclusion

In summary, the Ethereum $7,000 target appears increasingly viable amid surging whale activity, recovering ETF inflows, and the forthcoming Fusaka upgrade, which collectively enhance both market dynamics and network fundamentals. As institutional adoption grows and technical indicators align, Ethereum stands poised for potential upward movement. Investors should monitor volume trends and support levels closely for confirmation of this trajectory, staying attuned to evolving crypto market conditions.