On June 15, Ethereum whales accumulated over 818,000 ETH, equivalent to $2.5 billion, marking the largest daily inflow since 2018. This group of wallets, comprising addresses holding between 1,000 to 10,000 ETH, has increased their holdings significantly from 11.87 million ETH a year ago to over 16 million ETH. This surge coincides with a rise in institutional demand as Ethereum investment funds recorded $583 million in inflows in the week ending June 13, totaling $2.28 billion for the year. While the price of ETH has risen 90% in two months, it remains within a multimonth consolidation range, reminiscent of the 2017 breakout. Analysts predict a short-term price target of around $4,000, with potential for reaching $10,000, as ETH consolidates below critical resistance levels. Overall, this accumulation trend and price action echo past dynamics and suggest a bullish outlook for Ethereum in the near future.

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