Analyst Targets $6K Ethereum Price Amid BlackRock Accumulation

Key Insights:

• A cryptocurrency analyst on X used the Wyckoff Model to assess Ethereum price potential to rally past $6,000.
• BlackRock, the world’s largest asset manager purchased 65,901 ETH, valued at approximately $315.6 Million.
• Yesterday, BitMine Immersion (BMNR) officially secured its place as the world’s largest Ethereum treasury.

Ethereum price is eyeing a massive spike to $6,000, according to digital assets analyst Merlijn Trader, who recently made the prediction on X based on the Wyckoff Model.

At the time of writing, Ethereum (ETH) was trading at $4,519.58 after a long red candle on the 4-hour chart that saw a downtrend from $4,610.

Over the last 24 hours, Ethereum slid around 2.3%, and over the past week, the price was up 7.52%.

Ethereum Price Eyes $6,000

A cryptocurrency analyst on X used the Wyckoff Model to assess Ethereum’s potential to rally past $6,000. The Wyckoff model is a century-old market cycle framework that outlines five phases: accumulation, markup, distribution, markdown, and re-accumulation.

Ethereum’s recent price action aligns perfectly with this structure. After bottoming out in early 2025, ETH formed the classic “Spring” pattern (a setup where the price dips below support to shake out weak hands), and this was followed by a successful “Test,” confirming bullish demand.

According to Merlijn, the leading altcoin by market cap has completed a textbook Wyckoff accumulation cycle, signaling the start of a parabolic markup phase that could propel prices toward $6,000.

The subsequent rally has already “jumped the creek,” a key breakout above resistance levels, leaving the Spring far behind. With supply absorbed and buyers in control, the model now points to a sustained markup phase.

The analyst argues that the only outcome from this stage is parabolic appreciation. The projection places Ethereum at $6,000, a level consistent with the measured move from prior consolidation ranges.

BlackRock Adds 65,900 ETH

The world’s largest asset manager, BlackRock, purchased 65,901 ETH, valued at approximately $315.6 Million, according to filings on August 26, 2025.

The move comes as Ethereum trades above $4,375, signaling rising confidence across the market. On average, BlackRock paid around $4,441 per ETH, which is slightly above the prevailing rate.

Ethereum’s fundamentals have also been strengthening. Demand is rising, thanks to speculations around the start of the altcoin season, growth of decentralized finance, and the increasing adoption of smart contracts.

Since the Merge, Ethereum has also been operating on a significantly more energy-efficient model, enhancing its long-term sustainability.

Overall, $443 Million in ETH was scooped up over the last 24 hours, with BlackRock’s inflows leading the charge at about $315 Million. Yet despite the massive buying, Ethereum’s price dipped as short-term holders rushed to take profits.

BitMine Immersion Becomes World’s Top Ethereum Treasury, Ethereum Price Push Expected?

Yesterday, BitMine Immersion (BMNR) officially secured its place as the world’s largest Ethereum treasury. The Las Vegas-based technology firm now holds 1,713,899 ETH, worth roughly $7.7 Billion at current market prices of $4,519.58.

In total, BitMine’s combined crypto and cash reserves stand at $8.82 Billion, placing it ahead of other major Ethereum holders, including SharpLink Gaming, according to CoinGecko. This milestone firmly establishes BMNR as the top corporate custodian of ETH worldwide.

On the broader leaderboard of corporate crypto treasuries, BitMine ranks second overall, trailing only Michael Saylor’s Strategy (MSTR). Strategy remains the dominant Bitcoin player, with 629,376 BTC on its balance sheet, currently valued at approximately $71 Billion.