Over the past week, Ethereum (ETH) has reversed its recent downtrend, staging an impressive rally to price levels last seen in mid-February 2025. This upward momentum coincides with a surge in on-chain activity, particularly large-scale ETH withdrawals from centralized exchanges—often a bullish signal for long-term holding behavior.
ETH Withdrawals Spike to $1.2B Weekly
According to recent data shared by institutional-grade DeFi platform Sentora (formerly IntoTheBlock), ETH withdrawals from centralized exchanges have soared past $1.2 billion in just seven days. This dramatic outflow reflects growing investor confidence, as market participants increasingly move their ETH off trading platforms—typically a sign of long-term accumulation.
The timing of these withdrawals aligns with ETH’s notable 52% price surge, rising from under $1,800 to above $2,730. Such strong accumulation suggests reduced sell-side pressure, paving the way for continued upward price movement.
Market Sentiment Shifts from Doubt to FOMO
Ethereum has largely underperformed during the current bull cycle, leading many to question its upside potential. However, ETH’s breakout above long-standing resistance levels has sparked renewed optimism. As the price rally gains momentum, investor sentiment has flipped from fear and uncertainty to fear of missing out (FOMO), pushing more traders into the market.
With increasing demand and fewer coins available on exchanges, Ethereum is positioned for further gains—especially if the current withdrawal trend continues.
Over 60% of ETH Holders Now in Profit
The price surge has also improved the profitability of Ethereum investors. More than 60% of all ETH-holding addresses are now in profit, a significant rise from just 32% one month ago. This shift reinforces the bullish market structure and strengthens the case for continued accumulation.
Analysts remain cautiously optimistic. While some foresee potential consolidation between $2,400 and $2,700, on-chain analyst Ali Martinez has highlighted the $2,060 to $2,420 range as a critical support zone, with 10 million wallets holding over 69 million ETH at those levels.
