Ethereum News Update: Ethereum Eyes $5,000 as Whales Accumulate Amid Bitcoin Withdrawals and Broader Economic Challenges

Ethereum’s recent price movement has reignited discussions among market experts, as conflicting signals from blockchain data and chart patterns indicate a possible surge toward $5,000. Although the digital currency has found it difficult to surpass the $4,000 mark lately, a “triple bottom” setup and increased accumulation by major investors could signal a turnaround, according to

.

At the time of writing, Ethereum was trading at $3,957, reflecting a 6.5% drop since the beginning of October. Despite this pullback, technical signals highlight a pivotal moment. According to the Cryptonews article, charts reveal Ether forming a triple bottom pattern in the $3,750–$3,800 range, which is often seen as a sign of strong buying interest. If the price can maintain a move above $4,000, this reversal pattern could be confirmed, with some experts eyeing $4,280 as the next target. Glassnode’s on-chain metrics also show that large holders are accumulating, indicating that institutional and long-term players may be preparing for a recovery, the report added.

Nevertheless, Ethereum’s journey to $5,000 is not without obstacles. The overall market remains wary, and Bitcoin’s performance continues to influence alternative coins.

, which has remained stable around $111,300, has attracted $20 million in inflows this month, while has experienced $127 million in ETF outflows, as reported by Cryptonews. This contrast points to a shift toward Bitcoin, as investors look for safer assets amid rising tensions between the U.S. and China and broader economic uncertainty, the article noted.

Chart analysts warn that Ethereum needs to protect its immediate support at $3,700 to prevent a steeper decline. Should this level fail, losses could extend to $3,600, according to

. The analysis highlights that Ethereum’s upward drive has lost steam, with buying pressure fading near resistance and a bearish trend forming on the 1-hour ETH/USDT chart. The $3,910 level is identified as a crucial point for reversing the short-term downward trend, the report explained.

Broader economic trends add further complexity. Higher U.S. Treasury yields and a stronger dollar continue to put pressure on riskier assets, while uncertainty over Ethereum ETF approvals keeps traders cautious, The Tradable’s analysis mentioned. At the same time, Bitcoin’s consolidation near its multi-year peaks has drawn capital away from alternative coins, worsening Ethereum’s recent lag.

Despite these headwinds, Ethereum’s long-term prospects remain positive. Increased staking and the growing adoption of Layer-2 solutions lay the groundwork for future expansion, even as short-term price swings persist, The Tradable article observed. If the $3,700 support level is maintained, analysts believe Ethereum could find stability and make another push toward $4,000. A decisive move above this threshold, along with supportive on-chain trends, could pave the way for a broader advance toward $5,000—though such a rally would likely require a notable change in market sentiment and capital allocation.