Ethereum (ETH) price prediction: Institutional giants are accelerating Coin Hoarding! Bit Digital has invested $140 million to increase its holdings, and ETH is poised to surge to $5,200.

Ethereum (ETH) has seen a 5.73% short-term pullback in the past 24 hours, with the current price around $4,424.42, but its weekly rise remains at 6.69%. Despite a slight cooling in the market, institutional buying enthusiasm remains strong. Public company Bit Digital announced that it raised $150 million through the issuance of convertible notes and has used $140 million to purchase 31,057 Ether, increasing its total Ether holdings to over 150,244, making it the sixth largest Ether holder among publicly traded companies. Additionally, BlackRock also independently purchased $217.3 million of Ether, highlighting the growing confidence of institutions in Ether as a long-term investment. Currently, Ether is consolidating above $4,350, and market analysts believe this indicates the potential for a breakout above the $5,200 resistance level after a short-term consolidation.

Public Company Bit Digital Increases Ethereum Holdings: Open Interest Ranks Among the Top Six Globally

As the Ethereum price experiences a slight pullback, the publicly listed company Bit Digital has taken bold actions by significantly increasing its holdings of Ethereum, demonstrating its confidence in the long-term value of the asset.

· Large Purchase: Bit Digital used the proceeds from its $150 million convertible note sale to spend $140 million to purchase 31,057 ETH. This move brings its total Ethereum holdings to over 150,244 ETH.

· Holdings Ranking: This large purchase has elevated Bit Digital to the position of the sixth largest Ethereum holdings company among publicly listed companies globally, just behind PulseChain Sac, Ethereum Foundation, The Ether Machine, SharpLink Gaming, and Bitmine Immersion Technologies. Among them, SharpLink Gaming currently holds 838,730 Ether, making it one of the largest institutional holders, and has initiated its accumulation strategy on June 2.

· Management Commitment: Bit Digital CEO Sam Tabar stated that this purchase fully demonstrates the company's commitment to enhancing shareholder value. He emphasized that the company plans to continue expanding its Ethereum holdings while maintaining long-term net asset value (NAV) growth. Currently, Bit Digital holds Ethereum assets worth 512.7 million USD and holds shares in its majority-owned subsidiary WhiteFiber Inc. worth 723.1 million USD.

Institutional Buying Power Strong: Giants like BlackRock Accelerate Deployment

The increase in holdings by Bit Digital is not an isolated case; large institutional investors are accelerating their allocation to Ethereum, providing solid value support for Ethereum.

· Notable institutions involved: Investors participating in Bit Digital's convertible note issuance include well-known institutions such as Jump Trading Credit and Jane Street Capital, indicating market recognition of the company's strategy.

· BlackRock's Huge Purchase: In another independent transaction, BlackRock purchased $217.3 million worth of Ethereum. This action indicates that institutional investors' confidence in Ethereum as a long-term investment asset is continuously growing.

· Total Supply Proportion: Based on the holdings data of comprehensive reserve companies and ETFs, these entities collectively hold 12.6 million Ether, worth 56.4 billion USD, accounting for more than 10.3% of the total supply of Ether. Ethereum remains the second largest crypto asset treasury in the world, second only to the approximately 4 million Bitcoins (worth 500 billion USD) held by corporate treasuries.

Technical Analysis: Consolidating above $4,350, aiming for $5,200

Ethereum's price pullback in the past 24 hours has not broken its upward trend that began in June. Market analysts believe that Ethereum is consolidating above $4,350, building momentum for the next wave of rise.

· Short-term consolidation: Crypto analyst @matthughes13 points out that Ethereum is consolidating above $4,350, preparing for a potential breakout. The daily chart shows that Ethereum's current trading price is around $4,443.47, maintaining an overall upward channel.

· Support and Resistance: The recent key support level is at 4,300 USD, with further support levels at 3,850 USD and 3,600 USD. The key resistance levels above are concentrated at 4,800 USD and 5,200 USD, and these levels will determine the next direction of the Ethereum price.

· Breakthrough Outlook: If the price of Ethereum can hold above $4,300, the chart trends suggest that after a short-term consolidation, a breakthrough rise may occur, targeting $5,200. Conversely, if the price falls below $3,850, it could trigger a larger correction.

Conclusion

Despite the slight price pullback Ethereum experienced in the short term, the aggressive buying behavior of institutional giants, particularly BlackRock and Bit Digital, has injected confidence into the market, confirming Ethereum's appeal as a long-term allocation asset. As much as 10.3% of the total supply is held by reserve companies and ETFs, indicating that Ethereum's market structure is maturing. Investors should pay attention to the validity of the $4,300 support level; once the consolidation is complete and a successful breakout above the $4,800 resistance level occurs, Ethereum's price is expected to accelerate towards the next target of $5,200.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make decisions with caution.