Ethereum storms $1800: $2.8 billion in aggressive buying over six hours — what's behind the surge?
Ethereum (ETH) recovery above the key $1800 level was accompanied by a powerful surge in aggressive demand on the Binance exchange. Over six hours, the total Taker Buy Volume exceeded $2.8 billion, with over $1 billion concentrated in a single hourly interval. This is the highest hourly reading since June 5, when ETH was trading around $1605.
Notably, a previous similar surge in demand occurred at lower price levels. The current impulse, however, coincided precisely with the testing of the psychologically and technically significant $1800 mark — the first major return to this level after a drop to a June 6 low near $1510. This indicates that the upward movement was driven not merely by price inertia, but by a targeted and concentrated wave of buying.
Timing is everything
The key aspect is timing. Earlier this month, a similar volume of aggressive buying appeared when ETH was still trading around $1605. This time, the same activity manifested precisely at the breakout of $1800. A sustained hold above this level would mean buyers are ready to push the price higher after the recovery from the lows. However, if the impulse weakens, the $1 billion hourly spike could turn out to be just a short-term liquidity burst, rather than the start of a broader trend. For now, order flow data on Binance suggests that the $1800 breakout was backed by one of the strongest hourly waves of aggressive buying in the last ten days.
Prolonged capitulation or bottom formation?
On the other hand, analysts note that Ethereum is experiencing sustained and intense stress, which historically has been associated with bottom formation. However, the current situation differs from last year's. In 2025, ETH found a bottom after a relatively short capitulation phase, which laid the foundation for a rally to new highs in the summer. Now, ETH has been in a state of prolonged capitulation for several months. Under normal conditions, such a level of stress would already correspond to a bottom formation process, but the problem is that selling pressure continues. A bottom forms only when selling pressure begins to wane. The main question now is whether this process is close to completion, especially since Bitcoin (BTC) is giving the market a breather.
MN Fund founder Michaël van de Poppe is more confident. He has long noted the current ETH level and considers it an excellent spot for a 6–12 month horizon purchase. The investor expects a higher low to form. His next step is a breakout of the 0.03250 mark (in the ETH/BTC pair) and a return to a pronounced uptrend.
My view: The surge in aggressive buying at $1800 is a positive signal, but it does not negate the ongoing structural pressure. To confirm a reversal, a sustained hold above $1800 is needed, followed by a reduction in volatility and a weakening of sales. Prolonged capitulation can end as suddenly as it began, but for now, the market remains in a zone of uncertainty. We are watching ETH's reaction to a retest of this level.