Ethereum Accumulator Addresses Soak Up 400k ETH Amid Price Dip
Ethereum accumulator addresses absorbed nearly 400,000 ETH on September 24, following a historic 1.2 million ETH inflow on September 18. These Ethereum accumulator addresses, known for their strict buy-and-hold strategy, likely represent institutional or ETF-related players, underscoring growing institutional demand for ETH.
Ethereum’s price slipped below $3,900 amid broader macroeconomic concerns and is testing key support in the $3,800–$4,000 range, with $4,060 identified as critical resistance. CryptoQuant data and the Fear & Greed Index at “fear” indicate a risk-off environment. Analyst Ted Pillows expected the $3,800 liquidity zone test, while Arthur Azizov of B2 Ventures attributes the drop to deleveraging and thinning liquidity.
Despite short-term pressure, Ethereum fundamentals in staking, DeFi, and Layer 2 scaling remain robust. Market strategists like Trader Tardigrade and Michaël van de Poppe view current levels as an ideal accumulation area. A decisive reclaim of $4,060 could trigger a rally toward $4,500–$5,000. Conversely, failure to hold support may result in consolidation around $3,500–$4,500 or a deeper slide toward $3,600.
Bullish
The substantial ETH inflows by accumulator addresses signal strong institutional conviction, underpinning a bullish outlook for Ethereum. In the short term, the market may consolidate around current support levels ($3,800–$4,000) as deleveraging pressures subside and liquidity stabilizes. A successful break above the $4,060 resistance could trigger a rally toward $4,500–$5,000. In the long term, continued accumulation by institutional and ETF-related players, combined with robust fundamentals in staking, DeFi, and Layer 2 development, supports further price appreciation. Historical patterns show that sustained on-chain buying at key support zones often precedes extended uptrends.