Will BlackRock’s $100M Buy Propel Ethereum to $3,500?

The post Will BlackRock’s $100M Buy Propel Ethereum to $3,500? appeared first on Coinpedia Fintech News

The Ethereum price is once again at the center of attention as a wave of bullish signals has emerged, raising odds for a rally soon. This optimism is due to advanced institutional interest and on-chain metrics reflecting whale accumulation.

The current bullish sentiment has boosted market-wide sentiment, and analysts are eyeing a breakout towards $3,500 in the short term.

BlackRock Buys, Whale Wallets Expand

According to CryptoGoos, BlackRock reportedly bought $100 million worth of Ethereum in the past 7 days, which clearly shows aggressive purchases by the world’s largest asset manager. This signals renewed institutional conviction in ETH’s future.

BREAKING:

BLACKROCK BOUGHT $100,000,000 WORTH OF $ETH THIS WEEK.

WHALES ARE LOADING UP! pic.twitter.com/UFqmGgKc7P

— CryptoGoos (@crypto_goos) July 5, 2025

Backing this up, on-chain data displayed by Santiment also reveals a steady advancement in the holdings by wallet addresses with 1,000 to 100,000 ETH, indicating mid- to large-sized whales have been accumulating since mid-May.

Also, as of early July, these addresses continue to rise, suggesting a consistent rise in confidence.

Record Shorts Could Trigger a Squeeze

Interestingly, while accumulation surges, speculators on CME have built one of the largest short ETH futures positions in history, according to Barchart . This extreme bearish positioning has caught the attention of analysts who are now raising odds of a possible short squeeze scenario.

RECORD amount of $ETH shorts while Ethereum adoption is spiking

Ready for the massive short squeeze pic.twitter.com/EWOqPbcOBJ

— Quinten | 048.eth (@QuintenFrancois) July 5, 2025

Quinten Francois adds further fuel to this view, pointing to a surge in Ethereum adoption and inflows via bridged assets and stablecoin usage on Artemis. This growing demand, with overloaded short positioning, creates the perfect setup for a forced short-covering rally.

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Box Breakout in Play: $3,500 on the Horizon?

Technically, Ethereum has been stuck in a sideways “box range” for weeks, but momentum is shifting. According to Mister Crypto, ETH recently performed a liquidity sweep below the box range, often a precursor to a breakout in the opposite direction.

He believes a breakout from the upper box border near $2,500 could launch ETH toward $3,500 in the short term.

The bottom is in. $ETH is about to explode! pic.twitter.com/HIzPJKnhCN

— Mister Crypto (@misterrcrypto) July 5, 2025

This sentiment is echoed by Ted Pillows, who notes Ethereum is “flipping $2,500 resistance into support.”

Marcus Corvinus takes it further, setting sights beyond $3,500, should the $2,500 mark hold.

Combined with BlackRock’s recent buy and whale wallet growth, these chart signals are gaining credibility.

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