A whale withdrew 5,300 ETH worth $9.98 million from Kraken, extending an accumulation period and reducing the supply available on exchanges. Ethereum’s staking total climbed beyond 41 million ETH, reaching a record of approximately 33.8% of circulating supply, adding structural pressure on availability. Buyer-dominant spot taker activity reinforces the accumulation narrative alongside supply reduction movements. At the time of analysis, ETH was trading around $1,901, close to the $1,950 resistance, with technical indicators (+DI at 25.18, RSI at 54.59) oriented in favor of buyers. These supply dynamics could accelerate a breakout above $1,950 and open the path toward the $2,100-$2,200 zone in case of strong demand.
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