ETH Surpasses $3,800 on Whale Accumulation and Institutional Inflows

Ether (ETH) surged past the $3,800 mark on July 20, climbing nearly 6% over the previous 24 hours and outperforming the broader crypto market as measured by the CoinDesk 20 Index. The rally was driven by two main catalysts: a large-scale whale purchase and renewed investment from institutional buyers.

On-chain data from analyst group EmberCN revealed that a single whale accumulated roughly $50 million worth of ETH at an average price of about $3,714 over the weekend. This significant purchase highlighted strong demand at current price levels and helped lift market sentiment.

Institutional interest played a major role as well. U.S.-listed spot Ether exchange-traded funds attracted record inflows totaling approximately $2.18 billion during the past week—an event dubbed “crypto week” following recent U.S. regulatory progress. These inflows reflect growing confidence among major financial players in Ethereum’s long-term potential.

With price now sitting well above short-term resistance at $3,760–$3,790 and strong support observed near the $3,590–$3,610 range, technical indicators suggest a bullish setup. Analysts are increasingly targeting higher price milestones, with some projecting long-term valuations as high as $15,000 based on institutional interest and on-chain momentum.