Ethereum is rebounding after a steep selloff, rising more than 4% over the past week as fresh demand from large holders and improved risk sentiment helped stabilize prices. The move comes as corporate treasury activity continues to draw attention and geopolitical headlines ease fears of broader disruptions in the Middle East.
Data cited by blockchain and market trackers also points to renewed accumulation during the recovery, even as technical indicators suggest the market is still working through resistance levels.
Key takeaways
- Price move: Ethereum has gained more than 4% over the past week after falling to its lowest level since April 2025.
- Catalyst: Large-scale spot buying linked to corporate treasury strategies, alongside wallet activity flagged by on-chain analysts, has supported demand.
- Macro/geopolitics: Reports of a US-Iran peace agreement and ceasefire reduced concerns over further conflict and risk to shipping routes, improving broader risk appetite.
- Market implication: Technical momentum has improved from oversold conditions, but Ethereum remains below key long-term moving averages, keeping the longer-term trend less certain.
What drove the move
According to Bitmine Immersion Technologies, the company completed a $273.8 million preferred equity raise and deployed $136 million of the proceeds to acquire 76,881 ETH during a concentrated buying period. Bitmine said the strategy aligns with a treasury approach previously popularised through bitcoin accumulation plays, and it now holds roughly 5.62 million ETH, representing about 4.66% of Ethereum’s circulating supply.
Large purchases like these can reduce available supply and support price during periods when selling pressure is already elevated. Bitmine’s buying is described as part of that mechanism, coming as Ethereum recently hit levels not seen since April 2025.
On-chain signals also contributed to the accumulation narrative. The report cited wallet activity connected to BitMEX co-founder and Maelstrom CIO Arthur Hayes, which reportedly acquired 3,000 ETH worth about $5.4 million via FlowDesk as Ethereum recovered from its recent lows. Analysts interpreted the timing as evidence that large investors were willing to add exposure during weakness.
Geopolitics and the macro backdrop
Geopolitical developments provided additional support for risk assets. The article referenced reports of a US-Iran peace agreement and ceasefire, which it said helped ease concerns about conflict escalation and reduced fears surrounding shipping disruptions through the Strait of Hormuz.
As risk appetite improved, capital flowed back into higher-beta segments, including cryptocurrencies. This broader shift matters because Ethereum’s recent weakness was also linked to institutional decision-making tied to macro variables.
Earlier, spot Ethereum exchange-traded funds saw substantial outflows, as investors reduced exposure to crypto investment products amid persistent inflation concerns and rising bond yields. Higher yields tend to increase the relative attractiveness of fixed-income assets, which can pressure demand for volatile risk assets. During that period, Ethereum fell nearly 20% and traded toward the $1,500 area before stabilizing.
Technical picture: rebound, but trend not fully repaired
Crypto analyst Ali Martinez highlighted an ascending triangle pattern on Ethereum’s four-hour chart, identifying resistance near $1,720 and a potential breakout target around $1,850 if the price cleared that level. The article said Ethereum has already broken above the $1,720 resistance area and briefly traded near the $1,840 to $1,850 zone before pulling back.
Traders are now watching whether that former resistance can hold as support, particularly because the pattern’s measured move was largely reached during the brief push higher. On the daily chart, Ethereum was described as trading near $1,760 after rebounding from lows around $1,500, with the Relative Strength Index moving out of deeply oversold territory.
According to the article, the RSI sits near 42.5, up from levels below 20 during the selloff. It also said the RSI has crossed above its moving average, a development commonly associated with improving short-term momentum. Still, the RSI remaining below 50 suggests buyers have not fully regained control.
Moving averages reinforce that caution. The report stated Ethereum is below its 20-day exponential moving average near $1,793, while the 50-day, 100-day and 200-day exponential moving averages are around $1,961, $2,117 and $2,385 respectively. With price below these trend indicators, the longer-term structure has not yet turned decisively bullish, the article noted.
Network activity and what to watch next
Beyond price, the article pointed to underlying ecosystem activity as a stabilizing factor. It cited data from tokenization trackers showing real-world assets on Ethereum exceeding $16.6 billion, described as a 315% increase versus levels recorded earlier in 2025. That type of growth can support longer-horizon demand narratives, even when market prices are volatile.
Investors are also monitoring the Glamsterdam hard fork scheduled for the third quarter, which could affect expectations around Ethereum’s roadmap and transaction ecosystem.
For the near term, traders will likely focus on whether Ethereum can hold above the recently reclaimed area around $1,720 and whether the recovery can broaden enough to challenge the 20-day moving average near $1,793. Additional confirmation could come from movement above longer-dated resistance closer to the 50-day EMA and, eventually, the 200-day EMA zone around $2,385—levels that typically matter for institutional trend-following. Upcoming catalysts to watch include additional macro data that could influence bond yields and risk appetite, alongside developments tied to Ethereum’s hard fork timeline.
