ETH short-term rise of 1.45%: continued whale accumulation and ample liquidity fuel rebound from lows

During the period from 21:00 to 22:00 (UTC) on July 6, 2026, the price of ETH rose from 1,792.65 USDT to 1,833.19 USDT, achieving a +1.45% return rate with a volatility of 2.26%. The price operated in a low range, market volatility intensified, and buying sentiment clearly heated up.

The main driving force behind this anomaly was the resonance of ample on-chain liquidity and continuous accumulation by whales. The supply of USDT on the Ethereum chain surged from US$54 billion to US$102 billion, nearly doubling liquidity and providing sufficient buy-side capital for the price rebound. Meanwhile, data shows that large ETH holding addresses have been continuously transferring coins from a major exchange's hot wallet to private wallets and staking contracts. On July 6, multiple large transfers exceeding 10,000 ETH indicated that whales are still actively positioning, with a significant cumulative net outflow.

Secondly, the strengthening of institutional holdings further amplified this rally. Total ETF holdings have reached 6.5 million ETH, and the development of staking ETFs has made ETH an income-generating institutional asset, attracting more allocation demand. Currently, about 40.3 million ETH are staked, equivalent to 32% of the supply. The high staking rate locks up a large amount of circulating supply, reducing the number of tradable ETH on the market. The price being at a relatively low level (down over 60% from the 2025 high) also attracted bargain-hunting buyers.

Current risks mainly focus on the uncertainty of ETF fund flows. Citi recently cut its 12-month Ethereum target price from $3,175 to $2,240, and attention needs to be paid to the daily net inflow/outflow data of ETFs. Meanwhile, Federal Reserve interest rate expectations and the dollar trend may still affect the pace of institutional capital allocation.