Ethereum Surges Past $2,000 Amid Whale Accumulation, Fed Decision

Ethereum (ETH) has surged past the $2,000 mark, experiencing a notable price increase attributed to significant accumulation by large holders and positive market sentiment following the U.S. Federal Reserve's decision to maintain interest rates. Over the past 24 hours, ETH recorded a gain of over 7.8%, driven by a rise in trading volume and whale movements, with large investors withdrawing substantial amounts from exchanges to capitalize on market conditions. On-chain data indicates that accumulation addresses have added over 400,000 ETH recently, suggesting confidence among major players in the asset's potential for recovery. Despite this upward trend, ETH faces resistance around the $2,150 to $2,200 range, which could determine its next price movements. The cryptocurrency's recent gains also reflect broader optimism in the market, as Bitcoin aims for significant milestones amidst favorable economic indicators. However, ongoing concerns about inflation and market volatility remind investors to remain cautious as they navigate the current landscape.