Ethereum News Today: ETH Price Eyes $2,000 as Whales Keep Buying

Ethereum price is trading below $1,900 today, slipping slightly as traders wait for fresh signals from the Federal Reserve.

Bitcoin, meanwhile, holds firm above $64,000, up over 1% on the day. The gap between the two coins has sparked fresh debate about where ETH price action goes next this week.

Big wallets are not waiting around. A whale address bought another 5,000 coins worth $9.53 million just hours ago, bringing its total buys to 10,657 ETH, or roughly $20 million.

Data from SoSoValue also shows the network saw a net inflow of $4.95 million yesterday.

Why Is Ethereum Price Moving Sideways?

$ETH is stuck in a tight range right now. The price is bouncing between its 50-day and 100-day moving averages, while the rising 20-day average keeps offering support underneath.

This kind of pattern usually means buyers are not giving up, but sellers are not backing down either. The 100 EMA, sitting near $1,918 to $1,930, is the wall that bulls need to break.

If $ETH can close firmly above that zone, the next stop could be $2,000, and then the $2,050 to $2,120 area.

But if price keeps failing there and slips below the 20 EMA around $1,887, a drop toward $1,870 or even $1,800 to $1,820 becomes more likely.

What Is the ETH/BTC Ratio Telling Traders?

BitMine Chairman Tom Lee says the ETH/BTC ratio just broke above a multi-year downtrend, now sitting at 0.02994 and climbing. He believes this signals growing demand tied to tokenization and agentic AI, where software agents handle transactions on their own.

Lee has pointed out that past bull cycles were driven by different trends: ICOs in 2017 and 2018, NFTs after that, and stablecoins in 2025. He thinks tokenization and AI agents could be the next driver for the network.

Interestingly, BitMine slowed its own token purchases this week while ramping up stock buybacks, repurchasing 1.7 million shares and pushing total buybacks past 20.8 million shares since July.

BitMine's Holdings at a Glance

What Is the Glamsterdam Upgrade and How Does It Affect ETH?

Ethereum Foundation launches Platåberget testnet for Glamsterdam upgrade. The foundation behind the network has warned developers that the upcoming Glamsterdam upgrade could break some wallets, indexers, and gas estimators. The issue comes from changes to how gas is calculated.

Under a proposal called EIP-8037, a new "state-gas" charge will apply to actions that create new data on the blockchain. A normal ETH transfer to an existing wallet still costs 21,000 gas, but sending ETH to a brand-new wallet will cost extra.

Developers are being urged to test their tools on Plataberget, a public testnet that launched on August 13. Glamsterdam itself is set to go live on Thursday, followed by testing on the Sepolia and Hoodi networks.

The upgrade also brings other changes, including proposer-builder separation and higher limits for smart contract sizes.

Ethereum Price Prediction: What's Next?

Right now, the setup for price action looks neutral to mildly bullish. The 20 EMA is acting as short-term support, and a clean break above the 100 EMA would strengthen the case for a move toward $2,000.

Whale accumulation and steady staking inflows suggest some investors are positioning for a longer climb.

Still, the token needs to clear resistance convincingly, and the Fed's meeting minutes could add volatility in the short term.

Nothing here guarantees a specific outcome. Markets can shift quickly, and traders should watch how price reacts around the $1,900 to $1,930 zone over the coming days.

Disclaimer

This article is for informational purposes only and should not be taken as financial or investment advice. Cryptocurrency markets are highly volatile and carry significant risk. Always do your own research and consult a licensed financial advisor before making investment decisions.