The post Ethereum Price Rebounds as Whale Activity Picks Up: Key Levels to Watch appeared first on Coinpedia Fintech News
The altcoin market, led by Ethereum (ETH), has experienced a bullish rebound over the past 24 hours, following Bitcoin’s (BTC) price rise. This surge came as the DeepSeek narrative was largely debunked. As of Tuesday, January 28, during the mid-European trading session, the total crypto market cap rose by more than 3%, reaching about $3.67 trillion.
With the leveraged crypto market cooling off in recent days, Ethereum has taken the lead in a relief rally. According to the latest market data, ETH price has increased over 4% in the last 24 hours, trading at around $3,203 at the time of writing.
The Ethereum network remains a central player in the crypto market, especially after some recent shifts.
Ethereum Whales Not Fully Convinced
Ethereum has seen big changes in demand from whale investors, with the approval of spot ETH ETFs in the U.S. playing a major role in Ether’s mainstream adoption. After strong cash inflows in mid-December 2024, demand for U.S. spot Ether ETFs has slowed recently. Aside from BlackRock’s ETHA, which saw a net inflow of $20.6 million, most U.S. spot Ether ETFs have had either net outflows or zero inflows as of Monday.
On-chain data from Glassnode shows that 13 large whales, each holding over 10,000 ETH, have joined the network in the past 24 hours, signaling renewed interest from major investors.
ETH Preps for New Upgrades
The Ethereum core developers, led by co-founder vitalik buterin