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Recently, Ethereum market sentiment is cautious and bearish. Driven by geopolitical conflicts and a broad decline in global risk assets, ETH is down by about 3% over the past 24 hours, trading at $2,289. Across the entire network, leveraged funds have been concentrated and liquidated, with short-term bears holding an advantage.
On the institutional front, the long-term accumulation trend is clear. BlackRock holds more than 3 million ETH (about $6 billion) via an ETH ETF. Bitmine increased its holdings by 71.5k ETH in a single week, bringing its total holdings to 4.87 million ETH—accounting for