Analysis of the ETH spot market | 17.01.2026 • 07:00 UTC
Ethereum is entering a consolidation phase ⚖️ against a backdrop of mixed signals: on one hand — record institutional interest and growth in staking, on the other — short-term technical weakness and capital outflows. The volume of ETH in staking has reached 36 million coins (29.6%), significantly reducing liquid supply and forming a structurally bullish foundation 📈.
Institutional demand continues to grow 🏦: companies like Bitmine and BlackRock are increasing their exposure to ETH and exploring the integration of DeFi solutions. Meanwhile, the network is demonstrating high on-chain activity — 447,000 new addresses and an increase in daily transactions confirm sustainable adoption and improvements in scalability 🌐.
However, short-term risks remain ⚠️. EMA7 is below EMA25, volatility is decreasing, indicating a local bearish phase. Additional pressure is created by outflows exceeding $19 million USDT and movements of hacker funds being converted to ETH for subsequent distribution.
Output: ETH is fundamentally strong, but in the near term, the market may remain in a wait-and-see mode before the next impulse.
Insider from the analyst: consolidation at such a level of staking often precedes a sharp movement — the only question is time.
Watch out for $ETH — average your positions wisely! #ETH #Ethereum