Ethereum Price Holds Steady as Long-Term Holders Continue Accumulation

Calm Market Activity Suggests Confidence Among Major Players

Ethereum’s recent attempt to reclaim higher price levels around $4,400 has been met with resistance, pushing the asset down roughly 7% over the last 24 hours. Despite the pullback, the network’s on-chain indicators reveal a market driven by patient accumulation rather than fear-based selling.

Large Holders Keep Their Grip

A significant portion of Ethereum’s circulating supply remains concentrated among a small group of large, non-exchange entities, including staking operations, custodians, and institutional holders. With roughly half of all ETH locked away in these wallets, the majority of tokens are controlled by investors who appear unaffected by short-term volatility.

Most long-term participants are still sitting on unrealized gains, with over 80% of the total supply currently in profit. This reinforces the idea that existing holders have little motivation to sell during market dips, supporting a long-term accumulation trend.

Recent realized profit and loss figures indicate a healthy balance between coins sold at gains and those moved at losses. The overall ratio remains neutral, signaling that weak holders are gradually exiting while more resilient investors absorb supply.

Exchange Data Reflects Shrinking Tradable Supply

Exchange metrics back this steady-hands narrative. Over the past month, net outflows from centralized exchanges have outpaced inflows, suggesting that more ETH is being withdrawn to cold storage, staking, or long-term custody. This gradual reduction in liquid supply narrows the pool of tokens readily available for trading, potentially paving the way for tighter supply conditions if buying demand accelerates.

Metrics tracking coin age and activity confirm that older ETH holdings are being repositioned — primarily within staking ecosystems or institutional channels — rather than sold. With no major uptick in exchange deposits, these movements appear to be strategic reallocations rather than exits from the market.

Meanwhile, total exchange reserves have fallen sharply in recent years, dropping from around 10 million ETH to approximately 3 million. This long-term trend toward illiquid storage and investment vehicles continues to reinforce Ethereum’s structural supply squeeze.

Price Outlook: Testing Support or Coiling for a Move?

From a technical perspective, Ethereum’s current setup suggests a possible retest of the $2,100–$1,800 support area if broader risk sentiment weakens. However, the absence of large selling spikes, combined with muted profit-taking behavior, implies that the market remains stable for now.

ETH continues to consolidate above the 200-week moving average near $4,100. Chart structures highlight emerging bullish patterns, with traders eyeing potential continuation setups that could propel prices toward the $7,000 region by mid-2026 — assuming macro conditions remain favorable and demand resumes.

For now, Ethereum’s calm market behavior masks a deeper trend of strategic accumulation. The network’s strongest holders are content to wait, quietly tightening supply while preparing for the next phase of price discovery.