Ethereum Price Consolidation Amid Whale Accumulation and Macro Headwinds

Ethereum's price movement remains sluggish despite some gains earlier in the previous week, registering only a 0.3% increase over seven days and a slight 0.2% decline in the last 24 hours. The current trading price is around $2,436, reflecting market hesitation amidst broader crypto uncertainty. Large holders, or whales, continue to accumulate Ethereum, with consistent weekly staking inflows and significant net withdrawals from exchanges, indicating ongoing institutional support. However, retail investor activity remains minimal, with daily active addresses steady at low levels and no substantial increase in new participants. Market data suggests a balancing act: whales withdrawing ETH and maintaining stable leverage seem to create a supply squeeze that prevents downward moves, but the lack of retail enthusiasm and limited trading activity hinder any breakout. The broader macroeconomic environment, including declining US liquidity and divergent signals from derivatives markets, adds additional headwinds, hinting at potential short-term volatility. For traders and investors, Ethereum appears to be in a state of consolidation, with significant support from large holders but insufficient participation to propel it higher or lower decisively. Without renewed retail engagement or external catalysts, the current range-bound movement may persist.