Ethereum (ETH) recently surged to $2,600, but institutional investors sold off around $45 million in ETH. Notably, Cumberland moved 11,800 ETH to Coinbase, while ParaFi Capital withdrew 5,134 ETH from Lido, also sending it to Coinbase. These large transactions have raised concerns about potential market shifts.

Despite this sell-off, crypto analyst Julien Bittel predicts ETH could reach $20,000 by early 2025. He sees similarities between Ethereum's current performance and its 2023 bullish trend, suggesting a significant rally may follow.

ETH has modestly increased to $2,671.43, staying within the $2,643 to $2,728 range, showing resilience despite market volatility and institutional adjustments.