Ethereum Traders Turn Bullish as ETH Rebounds to $2,300 on Strong Institutional Demand

Ethereum has bounced back to $2,330, and prediction market traders are betting big on further upside. On Myriad, a prediction market platform, users have placed a 54% probability on ETH reaching $3,000 over the next move, up sharply from just 37% the day before. The shift signals growing confidence among traders as Ethereum gains momentum.

ETH has climbed 2.6% over the past 24 hours and 12% over the past week, according to CoinGecko data. The rebound comes as the second-largest cryptocurrency reaches a six-week high, drawing renewed attention from both retail and institutional players.

Institutional capital is backing the move. Digital asset investment products pulled in $315 million tied to Ethereum exposure last week, part of a broader $1.06 billion inflow into crypto investment products. This marks the third consecutive week of gains, suggesting money is flowing into digital assets amid current macroeconomic conditions.

James Butterfill, head of research at CoinShares, attributed the Ethereum inflows to new U.S. staking listings. These products have made it easier for institutional investors to gain exposure to Ethereum’s staking rewards, removing friction from the investment process.

BitMine Immersion Technologies, a digital asset treasury firm, also disclosed a major purchase last week. The company acquired 60,999 ETH worth approximately $138 million, adding to a broader accumulation trend among institutional players. BitMine’s total holdings now exceed 4.5 million ETH, valued at over $10.5 billion.

BitMine Chairman Tom Lee commented on the purchase, noting that Ethereum has “shown resilience” despite geopolitical tensions and rising oil prices. Lee suggested that crypto prices may be entering the “late or final stages” of what he termed a “mini-crypto winter,” indicating potential recovery ahead.

The Ethereum Foundation also confirmed that BitMine made a separate direct purchase of 5,000 ETH from the Foundation itself earlier in the week for approximately $10.2 million. This direct transaction underscores the Foundation’s continued engagement with major institutional buyers.

Beyond prediction markets, broader fund flows tell a similar story. The week’s $1.06 billion in inflows to digital asset products represents a significant structural shift. U.S. investors dominated the flows, accounting for 96% of global inflows, primarily through spot ETF products that have become the main gateway for institutional exposure to crypto assets.

See also: Ethereum Foundation Sells 5,000 ETH to BitMine in $10.2M OTC Deal

Bitcoin captured roughly three-quarters of those inflows at $793 million, but Ethereum’s $315 million haul reflects genuine institutional interest in the network beyond just the leading cryptocurrency. The three-week total of inflows now sits at $2.2 billion, narrowing what had been a $3 billion outflow over the previous five weeks.

Analysts point to multiple factors driving the renewed interest. Geopolitical uncertainty has positioned Bitcoin and other digital assets as portfolio diversifiers outside traditional financial systems. Additionally, regulatory progress and improved valuation multiples following the prolonged downturn have made crypto more attractive to institutional allocators.

George Papp, chief liquidity officer at Altura DeFi, explained that institutions are increasingly viewing digital assets as genuine portfolio diversifiers rather than pure speculation. “When risk appetite returns or macro narratives shift, the first place that capital tends to express itself is through those ETF channels,” Papp told Decrypt.

The momentum extends beyond Ethereum. On Myriad’s Bitcoin prediction market, users have placed a 60% probability on BTC reaching $84,000, up from 50% the previous day. Bitcoin itself trades around $73,900, up 3.3% on the day and near its six-week highs.

However, sentiment remains mixed in some corners. Short-Bitcoin products saw $8.1 million in inflows, indicating that some investors maintain caution about near-term crypto valuations. Analysts describe this as a “healthy polarization,” with bears watching macroeconomic headwinds and timing risk while bulls anchor to structural demand narratives.

The Ethereum prediction market’s 54% bullish lean represents a tangible shift in trader positioning. Just one day earlier, the probability of an ETH move to $3,000 sat at 37%, meaning the bullish case gained 17 percentage points in a single day. This rapid repricing reflects fresh conviction in the market.

For context, Ethereum remains down roughly 54% from its August 2025 peak of $4,946, leaving substantial room for a run to $3,000. Bitcoin, meanwhile, is down nearly 42% from its October 2025 all-time high of $126,000.

The convergence of bullish prediction market positioning, significant institutional fund inflows, and large treasury purchases suggests Ethereum buyers are gaining the upper hand. Whether the network can sustain the momentum through $2,500 and toward $3,000 will likely depend on broader market conditions and the macro environment in the weeks ahead.