ETH rises 1.09% in 15 minutes: institutions increase holdings of nearly ten thousand coins to support the bottom, but a stronger U.S. dollar weighs on the overall trend

From 15:15 to 15:30 (UTC) on July 28, 2026, ETH surged by 1.09% within 15 minutes, rising from 1,887.62 USDT to 1,924.16 USDT, with an Ampl of 1.93%. However, on a 24-hour basis, ETH has fallen from a $1,966 high to around $1,876, down about 4.41%, showing a typical pump-and-retrace pattern. Overall, market sentiment is cautious, and volatility has increased.

The main drivers behind this unusual move are a stronger U.S. dollar combined with rising expectations that the Fed will raise rates. The DXY hit a one-month high, and rate-hike expectations drove capital flows toward traditional stable assets, putting pressure on the crypto market and triggering an overall pullback. As a risk asset, ETH declined in line with the broader market. Meanwhile, ETH moved down in sync with major coins, including BTC (-2.62%) and SOL (-4.07%), confirming that this was a systemic risk-appetite contraction rather than an ETH-specific event.

In addition, Bitmine Immersion increased its holdings by nearly ten thousand ETH (targeting control of 5% of the total supply), providing some downside support. Around $1,890, a large buy wall appeared, but it was unable to stop the overall downtrend. The current order book shows Asks dominating (bid/ask depth ratio of 0.46). Total bids and Asks are 3.84 units versus 8.30 units, so selling pressure remains elevated in the short term. The CLARITY bill is expected to be reviewed in the Senate soon, increasing policy uncertainty and further strengthening wait-and-see sentiment.

What to watch now is whether ETH can stabilize near $1,866; if it breaks down, it may accelerate downward to test $1,856 (the 24-hour low). Key resistance is in the $1,890–$1,905 range. On the macro side, closely monitor the Fed’s rate decision meeting, the DXY trend, and the progress of the CLARITY bill, while also tracking Bitmine’s subsequent accumulation pace and the BTC correlation effect. Liquidity in the order book is currently extremely thin (only one price level). In a low-liquidity environment, price fluctuations may be amplified, so it’s advised to watch for signs that key supports are holding.