Ethereum: Losing the $2,000 Level, Are Big Players Accumulating?

Ethereum has recently been weak, dropping below the psychological $2,000 mark on March 28, with a low of $1,958, and currently fluctuating around $1,990.

The main suppressing factor is liquidity. Ethereum spot ETFs have experienced net outflows for eight consecutive trading days, with over $440 million withdrawn in total. On March 26 alone, $92.54 million was pulled out, led by BlackRock's ETH A.

However, on-chain data shows positive signals. Analysis indicates that while retail investors are panicking and selling off, large holders' buy orders remain "very strong," absorbing sell pressure. This suggests that the chips below $2,000 are changing hands, and smart money is quietly positioning.

From a technical perspective, the short-term key support levels are $1,950–$1,970. Holding above this range could lead to a rebound toward $2,080–$2,150; if broken, the next support levels are $1,900 and even $1,755. The ETH/BTC rate remains stable around 0.03, showing relative resilience compared to Bitcoin.

Weekend strategy: Gradually buy the dip around $1,950–$1,970, with stops if it falls below $1,900; reduce positions on rebounds to $2,050–$2,080. Watch whether ETF fund flows reverse, as this is a key signal for a short-term sentiment turning point.

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Disclaimer: The above analysis is for reference only and does not constitute investment advice. The market carries risks; please make decisions cautiously.