The ETH Accumulation Strategy: Metalpha has Withdrawn another 6,000 Ethereum tokens worth $18.67 million; Bullish technical pattern indicates a potential 30% increase at present

Large On-Chain Activity of Major Crypto Holdings

Ethereum continues to be the focus of institutional investors, according to data presented by blockchain analyst Lookonchain. Recently, Metalpha Technology Holding Limited—a Hong Kong-based digital asset management firm—executed a large withdrawal of 6,000 ETH tokens worth a total of $18.67 million from a major cryptocurrency exchange. This transaction is part of a larger pattern of ETH accumulation that began five days ago, indicating ongoing interest from whales in Ethereum.

Metalpha, founded in 2021 and headquartered in Hong Kong, is one of the leading institutional-grade platforms for crypto wealth management. Their repeated accumulation activities reflect strategic positioning ahead of anticipated market movements.

Selling Pressure During American Market Hours and Market Consolidation

Currently, ETH is trading at around $3.11K, down 3.52% in the past 24 hours, showing a temporary pullback after a strong rally at the start of the year. This consolidation is directly influenced by strong profit-taking activities by US-based traders during American market hours, where a negative swing in the Coinbase Premium Gap reached levels not seen in the past ten months.

This price pressure suggests that the digital asset may struggle to break above the $3,300 resistance in the near term. However, various institutional buyers continue to show conviction in this asset class.

Institutional Buying Interest Amid Market Skepticism

Although on-chain indicators indicate temporary weakness, major financial players are still increasing their Ethereum holdings. In the past day, leading institutional investors purchased hundreds of millions worth of ETH tokens, highlighting a divergence between retail profit-taking and institutional accumulation strategies.

This behavior is a classic bullish signal in institutional markets—when big money is buying while retail traders are selling.

Technical Setup Shows Significant Upside Potential

From a technical perspective, ETH is forming an ascending triangle pattern, according to analysis by well-known crypto analyst Ali Martinez. Such formations are among the most important bullish signals in technical analysis, especially when the asset remains above critical moving averages.

ETH is currently supported by its 25-day Exponential Moving Average, indicating that the pullback is normal market behavior as buyers set lower prices. Based on historical patterns and the expansion of the ascending triangle formation, analysts estimate a potential 30% rally from current levels, targeting a move toward $4,000 in the short term.

The combination of institutional accumulation, strong technical setup, and strategic whale positioning provides a solid foundation for the next leg of the uptrend in ETH in the coming weeks.