Ethereum surged 26% this week to reach $2.5K, reversing all Q2 losses after dipping to $1.5K in June. Large whale wallets holding over 1,000 ETH sold 1.7 million coins since May, reducing their holdings from 58.64M to 56.91M ETH, while smaller holders were actively accumulating. Spot Ethereum ETFs saw record inflows exceeding 34,000 ETH this week, turning net buyers since July. Institutional players are betting on a potential rally toward $3K by September, though options pricing implies only a 12.5% probability.
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