Is Ethereum being boxed in below $4K – Strategically, by whales?

Key Points

1. ETH ETFs have attracted $1.9 billion in inflows since July 21, while exchange reserves dropped by 200K ETH, indicating a supply squeeze.

2. Whale wallet count (1K+ ETH) decreased by 100 over the past week, and Binance's ETH funding rate turned negative (-0.21%), suggesting bearish sentiment.

3. Over $100 million in Ethereum long positions were liquidated in 24 hours, indicating potential market manipulation and trapping of late buyers.

4. ETH is 3.3% below the $4K breakout level, with macro volatility expected due to the upcoming FOMC policy announcement.

5. ETH/BTC ratio rose 1.4% intraday, and Bitcoin Dominance (BTC.D) cooled to 61.25%, hinting at a possible ETH breakout if $4K is breached and sustained.