With Ethereum's [ETH] discounted prices, buying activity might be expected, but sell-side pressure could deter it. ETFs have boosted ETH demand, and recent data shows a retreat in bearish activity. BlackRock notably increased its ETH holdings, buying $109.9 million on August 6th, up from $47.1 million on August 5th, after pausing due to sell pressure. This suggests growing confidence and capitalizing on discounts.

While most ETH ETFs remain cautious, Grayscale ETHE ETF had outflows, adding $39.7 million in sell pressure on August 6th, but outflows are down from late July.

Whale accumulation is evident, with holdings increasing to 57.13 million ETH from 56.66 million, while investor and retail holdings slightly decreased. Address analysis shows five addresses with over 1 million ETH, a slight decrease in addresses with 100,000 to 1 million ETH, and an increase in those with 10 to 100 ETH.