Emre Yumlu 
Throughout 2025, Bitcoin (BTC) captured most of the spotlight with record-breaking rallies, while Ethereum (ETH) lagged behind. However, ETH recently broke its 2021 all-time high (ATH) before facing a sharp correction that once again brought it into focus.
Ethereum Faces a Pullback After New Highs
Following its rally, Ethereum retraced to around $4,200 amid selling pressure. Well-known crypto analyst Ali Martinez suggested that this correction may be setting the stage for a significant breakout in ETH’s price action.
Bollinger Bands Signal Potential Major Move
According to Martinez’s analysis shared on X, Ethereum’s Bollinger Bands have narrowed sharply, signaling a move into a “squeeze zone.”
In technical terms, a squeeze reflects declining volatility, often preceding a strong directional move. While such setups can break either way, Martinez emphasized that heavy institutional accumulation makes an upside breakout more likely.
Institutions Step Up ETH Accumulation
On-chain data supports this bullish narrative. Blockchain analytics platform Lookonchain reported that in the past 24 hours, four newly created wallets withdrew 78,229 ETH—valued at roughly $342 million—from the crypto exchange Kraken.
Such large-scale withdrawals are widely interpreted as institutional buying, underscoring rising confidence in Ethereum’s long-term outlook.
Trend Research Returns to the Market
Another noteworthy development came from Trend Research, which has resumed buying ETH after previously selling at lower levels.
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Just two months ago, the firm sold 79,470 ETH (worth about $250 million) at an average price of $3,145.
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Recently, it acquired 9,377 ETH (around $41.37 million) from Binance.
Blockchain data reveals that Trend Research first borrowed 88 million USDT from Aave, deposited it into Binance, purchased ETH, and then moved the assets into its own wallets.
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