ETH long and short intertwined, institutions bought near $4000, Su Zhu position squaring to SOL

On December 17th, according to IntoTheBlock data, the market showed strong demand around $4,000, with a total of 7.20 million ETH bought in the range slightly below $4,000, pushing Ethereum back above $4,000. On the same day, the Ethereum Foundation monitored another sale of 100 ETH (approximately $402,400), bringing the total sell-off this year to 4,466 ETH, with a total value of approximately $12.62 million.

 

In addition, Su Zhu stated on the X platform on December 17th that he had closed his long position in ETH near $4029 and instead increased his position in SOL (Solana) at $219. He also revealed that FTX claims and Pump.fun tokens are about to be launched, which may further affect market dynamics.

 

Under the influence of institutional buying, fund selling, and whale actions, the future performance of ETH prices remains to be observed.