Ethereum is seeing a surge in price, hitting new all-time highs around $4,500, fueled by increased demand and bullish trading activity. This impressive jump has been driven by record open interest of $28 billion, indicating traders are heavily positioned for significant market movement. 📈 Whales and the U.S. government have been accumulating ETH during dips, further strengthening the market’s outlook. 💼 💰 🇺🇸 Analysts highlight that this bullish engulfing candle pattern signals a potential shift in momentum from buyers to sellers. This formation suggests increased buying interest amid dips, with institutions and larger holders also making significant purchases. The upcoming price surge is particularly notable as we see historically robust trading activity, potentially marking Ethereum’s biggest breakout since 2021.