#数字资产市场动态 Ethereum's performance over the past 24 hours has been relatively stable, with a 0.74% increase, but behind the market volatility lies a complex interplay—institutional confidence, price targets, and whale movements are engaged in a triangular tug-of-war.

**Institutional Power Is Intervening**

The most direct signal comes from Bitmine. This leading ETH mining pool company recently staked 74,880 ETH, worth approximately $2.19 billion. This is not just a purchase but a strategic stance—generating yields through the PoS system, institutional investors are demonstrating their confidence in the long-term outlook with concrete actions. Such large-scale staking makes it hard to believe they are not optimistic.

**How Big Is the Price Potential by 2026?**

Industry analysts have made a bold prediction: Ethereum could reach $7,000-$9,000 by early 2026. This judgment is not based on wishful thinking but on the ongoing asset tokenization wave driven by Wall Street. More and more traditional assets are migrating onto the blockchain, and if this trend continues, it could indeed lead to increased demand.

**Short-term Momentum Is Good, But Risks Are Building**

RSI 6 has surged from 45.46 to 78.53 in the past 4 hours, and the price has risen from $2,929.78 to $2,949.04—short-term buying pressure is indeed strong. But this is like standing on a wobbly rope—once the balance is broken, the consequences could be severe.

The issue lies in whale movements. One whale has a long position on $BTC, $SOL, and $ETH worth up to $744 million, now facing an unrealized loss of $53 million. If they choose to stop out, the market could experience a significant shock. Meanwhile, another trader has opened a $58.6 million short position on ETH with three times leverage, creating a betting scenario that could easily trigger a liquidity crisis.

**What Does the Cliff in Trading Volume Indicate?**

Trading volume has dropped by about 70% over the past 24 hours, and altcoin trading has also been generally subdued. Under these conditions, market activity has significantly declined, and liquidity has become fragile. Some community members attribute this to holiday factors, but others worry that once market makers return, prices could test down toward around $2,100.

The bottom line is this: institutional staking indicates a long-term bullish outlook, but short-term liquidity crises, whale betting, and declining trading volume are creating a threefold pressure. The next direction depends on which of these forces loses balance first.