On December 8, 2025 (8.12.2025), Ethereum (ETH) is trading in the $3,130–$3,160 range, posting a roughly 2–3% gain over the last 24 hours and about 10% over the past week. Data from major aggregators such as Coinbase put ETH near $3,133.90, with a market capitalization around $378 billion, about 37% below its August all‑time high of $4,953.73. [1]
The broader crypto market is stabilizing after a volatile autumn. Bitcoin remains above $91,000, total crypto market cap is about $3.1 trillion, and popular sentiment gauges place crypto in the “fear” zone in the low 20s, suggesting traders are nervous but no longer in outright panic. [2]
Key Takeaways
- ETH price today (8.12.2025): Around $3,130–$3,160, up roughly 2–3% in 24 hours and ~10% week‑on‑week, with ETH still ~37% below its August 2025 all‑time high near $4,954. [3]
- Supply squeeze narrative: ETH balances on centralized exchanges have fallen to record lows around 8.7–8.8% of total supply, down about 43% since July, while an estimated ~40% of ETH is locked in staking, DeFi, and institutional products. [4]
- Big-money positioning:
- BitMine Immersion controls ~3.1% of ETH supply (~3.73M ETH) and continues to buy. [5]
- “Smart whales” have opened ~$426M in leveraged long positions on ETH, targeting a potential move toward $4,000. [6]
- Abraxas Capital has closed over $200M in ETH shorts, cutting its position from $267M to about $51.6M as of today. [7]
- Technical battleground: Analysts are watching support around $3,000–3,080 and resistance in the $3,140–3,250–3,550 zone. Bullish scenarios cluster around $4,000–4,300+, while bearish models still point to $2,500–2,200, and in extreme cases, sub‑$1,800. [8]
- Macro catalyst: Markets are bracing for the U.S. Federal Reserve’s December 10 meeting, where a 25 bps rate cut is widely expected—potentially setting up a year‑end “Santa rally” if confirmed. [9]
- Fundamentals: The Fusaka upgrade, activated on mainnet in early December, has raised Ethereum’s gas limit, introduced PeerDAS data sampling, and sharply cut transaction and L2 data costs, reinforcing Ethereum’s long‑term scaling and DeFi narrative. [10]
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Crypto assets are highly volatile and you should do your own research and consider your risk tolerance before investing.
Ethereum Price Today (8 December 2025): Where ETH Stands
Different data providers quote slightly different spot prices, but they all agree that ETH is comfortably above the $3,000psychological line:
- Coinbase: Latest ETH price around $3,133.90, up about 3% over the last 24 hours and 10% over the past week. [11]
- Market data feeds (Binance / Twelvedata & others): Show today’s intraday range roughly between $3,040 and $3,180, with a positive daily close near $3,160 on key USD pairs. [12]
- Regional desks (India, Indonesia):
Structurally, Ethereum remains the #2 crypto asset by market cap with roughly 13% market dominance, and its price is still about 24% below where it sat a year ago and ~37% below its August 2025 all‑time high near $4,953.73. [15]
So, in pure price terms, ETH today sits at an interesting crossroads: well off the highs, but no longer in panic territory.
On-Chain Data: Exchange Balances at Historic Lows
One of the biggest stories behind Ethereum’s price today is the rapid shrinkage of ETH held on centralized exchanges:
- Research from Glassnode, highlighted by CoinCentral and regional outlets, shows that only about 8.7–8.8% of ETH’s circulating supply now sits on centralized exchanges—the lowest level since Ethereum launched in 2015. [16]
- Those balances have fallen roughly 43% since early July 2025, as coins moved into staking, restaking protocols, DeFi collateral, layer‑2 bridges, institutional custody, and self‑custody wallets. [17]
Analysts quoted by CoinCentral and Brave New Coin argue that ETH is in its “tightest supply environment ever”, with one on‑chain commentator noting that only about 9% of supply is left on exchanges and roughly 40% of all ETH is locked in staking or institutional products (including ETFs and corporate treasuries). [18]
From a market‑structure perspective, that matters because:
- Less ETH on exchanges generally means less immediately sellable supply.
- If demand rises into that constrained float, price can move quickly, both up (if buyers chase scarce coins) and down (if thin order books amplify volatility).
However, most of these analysts are careful to stress that a supply squeeze is a necessary but not sufficient condition for a big rally: macro conditions and investor demand still have to cooperate. [19]
Whales and Institutions: Big Positions on Both Sides
BitMine, Tom Lee and the mega‑treasury
On the institutional side, BitMine Immersion Technologies, chaired by analyst Tom Lee, remains the poster child for aggressive ETH accumulation:
- BitMine now holds around 3.73 million ETH, worth over $11 billion, or about 3.1% of ETH’s circulating supply, according to CoinCentral and a detailed breakdown on InvestX. [20]
- InvestX notes that BitMine’s average cost since October is roughly $3,250, leaving the treasury in multi‑billion‑dollar unrealized loss territory after ETH’s drop from ~$4,900 to near $3,000. [21]
Lee publicly maintains extremely bullish long‑term targets—ranging from $12,000 to as high as $62,000 per ETH in some scenarios—framing the current drawdown as part of a larger accumulation phase. [22]
Whales piling into longs
On the derivatives side, several high‑profile “smart whales” have opened large leveraged long positions:
- Cointelegraph reports that three tracked whales collectively opened 136,433 ETH in longs (about $426M), with individual positions of $169M, $194M and $62.5M respectively, at spot prices around $3,140. [23]
- Another whale highlighted by Blockchain.News holds 54,514.73 ETH (about $170M), sitting on $4.592M in unrealized profit after entering around $2,956 and riding the move to $3,133—a roughly 6% gain. [24]
This cluster of whale longs is often interpreted as a vote of confidence that the local bottom is in or close, though it also means that if the trade goes against them, forced liquidations could magnify downside.
Shorts backing off
At the same time, we’re seeing big short positions unwind:
- AInvest reports that Abraxas Capital has closed over $200M of ETH shorts, trimming its exposure from $267M to around $51.6M via systematic daily unwinds of roughly $10M. [25]
- The article notes that this shift likely signals reduced conviction in further near‑term downside, even though Abraxas still sees room for 23–34% corrections within a broader bullish long‑term framework. [26]
Taken together, the whale and institutional picture around December 8 looks skewed toward accumulation and long exposure, but with significant leverage in the system that could cut both ways.
Macro Backdrop: Fed, Fear and a Fragile Recovery
Today’s ETH price action is happening against a macro backdrop that’s still shaky:
- Market strategists expect the U.S. Federal Reserve to deliver a 25 basis‑point rate cut at its December 10 meeting, a view echoed in weekly macro commentary from brokerage firm Caleb & Brown and in Cointelegraph’s latest ETH trading notes. [27]
- Caleb & Brown highlights that crypto liquidations topped $1 billion in late November, while the Crypto Fear & Greed Index hovers around 20, firmly in “fear” territory. [28]
- ABP Live’s daily crypto roundup notes that Bitcoin has reclaimed the $91,000 level, and multiple Indian exchanges describe the market as “cautiously optimistic”, with traders watching Fed messaging as the key catalyst for the rest of December. [29]
For Ethereum specifically, ABP Live quotes local analysts saying ETH is “approaching the $3,140–3,150 resistance area”, and that a clean break above this band could open up a path toward $3,250 and potentially $3,500 if macro conditions cooperate. [30]
The big takeaway: macro is still the boss. A supportive Fed could amplify the bullish on‑chain and technical setup; a hawkish surprise could quickly invalidate it.
Technical Picture: Key Levels and Analyst Scenarios
Different research desks paint a broadly consistent technical picture around today’s price: ETH is trying to turn a fragile rebound into a trend change, but still has work to do.
Short-term structure and resistance zones
CoinDCX’s detailed weekly ETH price report (Dec 5) frames the current setup like this: [31]
- ETH is trading near $3,160–3,170, back above its 20‑day EMA (around $3,082).
- It remains below the 50‑, 100‑ and 200‑day EMAs clustered between $3,350 and $3,550, keeping the broader trend technically bearish.
- Immediate support sits near $3,080 and $3,000, while resistance is concentrated in the $3,350–3,470–3,550 band.
- A daily close above $3,350–3,550 would be the first credible sign of a medium‑term bullish trend reversal; failure to break that zone could leave ETH range‑bound.
Ascending triangle toward $4,000?
In its “smart whales” article today, Cointelegraph notes that ETH has formed an ascending triangle on the daily chart: [32]
- Horizontal resistance near $3,250.
- Rising support trendline from the late‑November low around $2,621.
- A break above $3,250 would activate a measured move target near $4,020, roughly 28% above current price.
- However, technicians warn of heavy resistance between $3,350 and $3,550 (where the 50‑ and 100‑day SMAs sit) and another hurdle at the 200‑day SMA near $3,800.
In other words, even if the triangle breaks, ETH still has a “zone of congestion” to clear before chasing new highs.
Bearish wedge and MVRV downside risk
A separate Cointelegraph analysis, also circulated on TradingView, focuses more on downside risks: [33]
- On‑chain MVRV bands put key support in the $2,820–2,830 area; a sustained breakdown could shift focus to the realized price near $2,500.
- A bearish pennant on the daily chart could resolve lower, projecting a move toward $2,200–2,220, roughly 20% below current levels.
- However, the same structure can be seen as part of a larger falling wedge, which, if broken upward, could support a bounce toward $3,550 going into the new year.
Weekly forecast: bounce then bigger correction?
FOREX24.PRO’s ETH/USD forecast for December 8–12 also leans cautious: [34]
- They see ETH ending last week near $3,131, with moving averages still pointing to an overall uptrend.
- Their base case is a bullish correction toward resistance at $3,475, followed by another downward leg that could eventually push price below $1,745 in a deeper correction scenario.
- A break above $3,985–4,545 would invalidate the downside thesis and signal the start of a stronger rally.
This is one of the more aggressively bearish medium‑term takes in the current landscape.
Multi-year accumulation: the 4,300–6,800 and 1,800 zones
Brave New Coin’s latest deep‑dive takes a longer view, highlighting multi‑year accumulation patterns: [35]
- ETH has been stabilizing around $3,100, which analysts see as a potential consolidation base.
- On the daily RSI, each historical move from overbought → oversold → trendline breakout has historically coincided with 45–111% rallies, implying potential targets between $4,300 and $6,800 if the pattern repeats.
- On the weekly chart, the $1,800 zone is flagged as a major long‑term accumulation area, supported by a rising trendline from the 2022 lows.
They caution, though, that these are scenario ranges, not guarantees, and that macro shocks or regulatory surprises could invalidate historical analogues.
Fundamentals: Fusaka Upgrade, Cheaper Fees and the Long-Term ETH Story
Beyond charts and whales, Ethereum’s underlying fundamentals have strengthened significantly in the last week.
Fusaka: Faster, cheaper, more scalable Ethereum
The Fusaka upgrade, Ethereum’s second major hard fork of 2025, was activated on mainnet on December 3, with the rollout largely completed by December 5. [36]
Key elements, as described by ForkLog, Bitget and others:
- Higher throughput: Fusaka raised the layer‑1 gas limit (to around 60 million gas per block), which in theory can more than double network throughput and significantly increase the number of transactions each block can process. [37]
- PeerDAS and data sampling: The upgrade bundles a series of EIPs, most notably PeerDAS, which allows validators to sample small parts of large data blobs instead of downloading them entirely. This improves data availability and is a big step toward Ethereum’s sharding roadmap. [38]
- Cheaper mainnet and L2 activity: Bitget’s analysis highlights dramatically lower gas fees, with simple ETH or USDT transfers on mainnet reportedly costing around one cent, and L2 blob‑data pricing updated so that rollups contribute more predictable fees to L1 while still enjoying 40–60% lower costs compared with pre‑upgrade levels. [39]
There were some hiccups—notably an outage in the Prysm consensus client that temporarily took a slice of validators offline—but participation recovered and the network stayed operational. [40]
For the price, Fusaka’s impact is likely gradual rather than immediate: it makes Ethereum a cheaper, faster settlement layer for DeFi, rollups and tokenized assets, which strengthens the long‑term “utility” case that many institutional investors base their models on.
Institutionalization: ETFs, banks, and regulated staking
Recent weeks have also brought more traditional‑finance integration:
- AInvest’s strategic outlook argues that Ethereum’s 2025–2026 bull run is underpinned by:
- Ethereum ETFs and regulated staking products, which have unlocked new flows and allowed ETH to outpace Bitcoin in Q3 2025 inflows.
- Network upgrades like Fusaka and “Glamsterdam”, which position Ethereum as a scalable, efficient base layer for tokenized assets and global finance.
- Continued DeFi leadership and strong TVL, which create a “flywheel” of developers, users and capital. [41]
- Coinbase data notes that ETH ETFs saw record inflows earlier this year, and that more than $9 billion in ETH is now held by public companies like BitMine and others. [42]
- On the banking side, Coindesk reports that French banking giant BPCE will roll out crypto trading for 2 million retail clients, including BTC, ETH, SOL and USDC, via a Hexarq‑managed digital asset account. [43]
- ForkLog and Caleb & Brown highlight moves by Vanguard (now allowing crypto ETFs on its platform) and Bank of America, which is preparing to recommend a 1–4% allocation to digital assets for some institutional portfolios. [44]
All of this supports the idea that Ethereum is increasingly plugged into regulated capital markets, with spot ETFs, custody platforms, and big‑bank channels making it easier for non‑crypto‑native investors to hold ETH.
Ethereum Price Predictions: Short-Term vs Long-Term Views
Analysts looking at today’s price action are anything but unanimous, but we can roughly group current forecasts into three scenarios.
1. Short-term bullish, medium-term cautious
This is the stance taken by many trading desks:
- CoinDCX sees ETH consolidating above $3,000, with a good chance to grind toward $3,350–3,550 if it can break the cluster of moving averages. For December 2025, their base case has ETH in the $3,850–3,980 range, assuming the macro backdrop stays benign. [45]
- ABP Live’s panel of Indian exchanges also mentions a possible move toward $3,250–3,500 if the $3,140–3,150zone is decisively reclaimed. [46]
These views treat $3,000–3,080 as key short-term support, with dips below that level raising the risk of a retest of the high‑$2,000s.
2. Bearish “one more leg down” thesis
More cautious takes, like those from Cointelegraph’s MVRV analysis and Forex24.Pro, stress that: [47]
- A breakdown of on‑chain support near $2,820–2,830 could drag ETH toward $2,500, and in a more extended move, toward $2,200–2,220.
- FOREX24.PRO goes further, suggesting that after a corrective bounce to $3,475, ETH could start a larger downtrend with potential targets below $1,745 if macro conditions sour and bearish patterns play out fully.
This camp views today’s $3,100–3,150 area as fragile, arguing that liquidations, ETF outflows, or a hawkish Fed surprise could still make new lows.
3. Structural bull case: 4,300–6,800 and beyond
Longer‑horizon analyses are more optimistic:
- Brave New Coin’s RSI‑based work sketches upside scenario ranges between $4,300 and $6,800, assuming a textbook repeat of historical RSI behavior and continued supply tightness on exchanges. [48]
- CoinCentral and AInvest, looking at ETFs, staking, and DeFi leadership, argue that ETH is well‑positioned to outperform Bitcoin in 2025–2026 if regulatory clarity (e.g., the U.S. GENIUS Act) continues to improve and institutional allocations grow. [49]
- Some high‑profile voices, like Tom Lee, still float extreme long‑term targets (from $10,000 all the way up to $62,000 in outlier scenarios), but even bullish commentators acknowledge that such numbers depend on years of favorable macro, regulation, and network growth, and are far from guaranteed. [50]
For practical purposes, many traders seem to be treating $4,000–4,300 as the first “realistic” upside band to watch if ETH can reclaim its major moving averages and break the current resistance cluster.
What to Watch Next If You Follow ETH
If you’re tracking Ethereum over the coming days and weeks, here are the key variables that could drive price from today’s levels:
- Fed decision & macro data (Dec 10 and beyond)
- A 25 bps cut with dovish guidance would likely support risk assets, including ETH.
- A hawkish tone or surprise decision could reignite selling pressure. [51]
- The $3,000 line
- Holding above $3,000–3,080 keeps the short‑term bullish structure intact.
- A firm break below could put $2,820–2,500 back in play. [52]
- Triangle breakout around $3,250
- A daily close above $3,250 would confirm the ascending triangle that targets around $4,020, but ETH still has to chew through $3,350–3,550 resistance to sustain a move. [53]
- Exchange balances and staking flows
- If Glassnode’s data show exchange balances falling further while staking and ETF holdings grow, the supply‑squeeze narrative strengthens. A reversal (ETH flowing back to exchanges) would send the opposite signal. [54]
- ETF and institutional flows
- Watch weekly data on ETH ETF inflows/outflows and announcements from banks or asset managers adding ETH products. Continued inflows would support the institutional bull thesis; sustained outflows would challenge it. [55]
Bottom Line: Ethereum at $3,100+ Is a Battle Between Fear and Accumulation
On December 8, 2025, Ethereum is essentially caught between two forces:
- On one side, fear: lingering macro uncertainty, memories of recent liquidations, and technical patterns that still allow for a drop toward the mid‑$2,000s—or lower in extreme models. [56]
- On the other, accumulation: record‑low exchange balances, billions of dollars locked in staking and ETFs, whales opening hundreds of millions in longs, and a freshly upgraded network that’s cheaper and more scalable than ever. [57]
Right now, the market seems to be leaning cautiously bullish—ETH is holding above $3,000, whales are betting on upside, and institutions are slowly increasing exposure—but not yet convinced enough to push decisively through the $3,250–3,550 resistance wall.
Whether today’s price near $3,100–3,160 ends up looking like a launchpad or a bull trap will depend on what happens next with the Fed, global liquidity, ETF flows, and investor risk appetite. Until then, Ethereum’s story on 8.12.2025 is best summarized as:
Tight supply, growing institutional interest, improved fundamentals—
but still at the mercy of macro and market psychology.
References
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