Yeliz Akmaca 
Ethereum regained strong upward momentum after the Fusaka upgrade went live. The price reached a three-week high at 3,230 dollars and renewed investor interest. Medium-sized whale wallets holding between 1,000 and 10,000 ETH started accumulating aggressively in recent days. These wallets shaped the price direction throughout 2025. The recent rise signaled a return of market confidence. This trend also aligned with growing search demand for Ethereum price action.
Santiment described these addresses as “the main price indicator of 2025.” The network also gained 190,000 new wallets in a single day. This growth reflected a rapid expansion in on-chain activity. It also showed that Ethereum still maintains one of the strongest demand flows across the ecosystem. The data boosted expectations for short-term volatility. It further highlighted how investor behavior shifted after the upgrade.
Fusaka Upgrade Opens a New Phase for the Ethereum Ecosystem
The Fusaka upgrade improved performance and reduced rollup costs. It created a smoother connection between Layer-1 and Layer-2 infrastructure. Developer Terence Tsao confirmed the upgrade progressed without issues. He also said L2 chains continued to send blobs without interruption. His comments strengthened market expectations. They also highlighted developer confidence in the network.
“Fusaka went well and L2s kept sending blobs without disruption. Thanks to all teams, L1 and L2 now operate like a single machine.”
Fusaka is viewed as a milestone in Ethereum’s rollup-centric roadmap. The update expanded blob capacity and made transactions cheaper. It also strengthened user experience across decentralized applications. Bankless founder Ryan Sean Adams summarized the current momentum with strong remarks. He said developer motivation reached levels unseen since the Merge. This sentiment supported long-term optimism.
Meanwhile, daily gas usage exceeded 200 billion units on 3 December. It reached an all-time high on the same day Fusaka activated. This record revealed rising network activity. It also reflected strong demand for on-chain services.
Institutional Demand Builds as ETH/BTC Ratio Nears a Key Level
Market analysts pointed to new signals supporting Ethereum’s price direction. Ted Pillows noted that the ETH/BTC ratio approached a critical threshold. He added that reclaiming the 50-week exponential moving average could strengthen momentum. This move may also support altcoin markets. Analysts said institutional positioning became more visible. They emphasized that large moves often precede trend acceleration.
Institutional activity increased during the week. Tom Lee continued regular purchases and BitMine executed its third major ETH buy. Arkham Intelligence recorded two new wallets withdrawing 92 million dollars from Kraken and 58 million dollars from BitGo. BitMine now holds roughly 3.73 million ETH. This position reinforced market confidence. It further signaled long-term accumulation behavior among large entities.
Short-term charts showed 3,300 dollars as strong resistance. Meanwhile, support at 2,970 dollars remained intact. Analysts said price moves above this zone maintained a constructive outlook. Pullbacks were viewed as normal corrections. They added that trend strength relied on sustained network growth and institutional inflows.
Key Indicators to Watch in the Coming Sessions
The following metrics will guide Ethereum’s short-term outlook:
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Sustained price action above 3,300 dollars
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The protection of the 2,970-dollar support zone
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Network expansion and institutional inflows
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ETH/BTC ratio movements shaping broader market sentiment
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On-chain activity responding to the Fusaka upgrade
Ethereum’s rising network usage, strong investor demand and Fusaka-driven technical improvements shaped a positive market picture. These factors supported bullish expectations as the year approached its final weeks. Investors also focused on behavior signals from mid-sized whales. Their actions may continue to influence the broader market trend.,
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