TLDR
- An Ethereum whale opened a $90.8M leveraged long position at 20x on ETH
- A second whale opened a $61M long position at $2,303 on HyperLiquid
- Spot ETH ETFs recorded seven straight days of net inflows totaling $426M
- BitMine bought 101,627 ETH last week, lifting holdings to 4.97 million ETH
- ETH’s ascending triangle pattern targets a breakout toward $3,230
Ethereum is trading around $2,310 after pulling back from the $2,400 level over the weekend. The price is up over 7% in the past 30 days and around 41% from its February low of $1,750.
Two large ETH positions have drawn attention from traders. One whale opened a $90.8 million long with 20x leverage. Analyst TAnotepad also flagged a second whale, wallet 0x6C851, who opened a $61 million ETH long at 20x leverage with an entry near $2,303 on HyperLiquid.
The Fear and Greed Index has moved from 5 — Extreme Fear — two months ago to 54 today. That puts market sentiment in neutral territory.
Analyst AlphaBTC posted on X that macro data this week will matter. He said: “Strong retail sales could push yields higher and delay Fed cuts, while weak data would fuel risk-on bets.” He also noted that Fed commentary, PMI data, and geopolitical risks remain key wildcards.
ETF Inflows Hit Multi-Week Highs
Spot Ethereum ETFs have posted net inflows for seven straight days, bringing in $426 million during that stretch. Weekly inflows hit $275.83 million, the largest since January, according to SoSoValue.
Global crypto ETP inflows hit $1.4 billion last week, the highest since January, per CoinShares. Head of Research James Butterfill linked the move to improving risk appetite tied to US-Iran ceasefire talks and Bitcoin breaking above $76,000.
BitMine Raises Holdings to 4.97 Million ETH
Treasury firm BitMine Immersion Technologies bought 101,627 ETH last week, its largest weekly purchase since mid-December. That puts total holdings at 4.97 million ETH, worth roughly $11.44 billion.
Bitmine Adds 101,627 ETH in Biggest Weekly Accumulation in 4 Months
Bitmine Immersion Technologies added 101,627 ETH last week, marking its fastest pace of accumulation since the week of December 15, 2025. As of April 19, 2026, the company holds a total of 4,976,485 ETH,… pic.twitter.com/j6EGixRZTK
— Wu Blockchain (@WuBlockchain) April 20, 2026
BitMine Chairman Thomas Lee said the crypto winter is nearing its end. He pointed out that ETH has outperformed the S&P 500 by 2,280 basis points since the war started. Lee added that previous crypto winters coincided with equity drawdowns of at least 20%, while the current equity decline sits at just 8%.
BitMine also reported staking 3.33 million ETH, generating $221 million in annualized staking revenue.
Ethereum’s daily chart shows an ascending triangle pattern. A break above $2,400 would target $3,230, a move of over 41% from current levels. The RSI sits near 55, and the Stochastic Oscillator is around 61.
Key support sits at the 20-day EMA near $2,252 and the 50-day EMA at $2,211. ETH saw $144.4 million in futures liquidations in the past 24 hours, with $101.1 million from long positions.
The $2,300 level is being watched as the key near-term support, with $2,400 as the resistance to break.