• Ethereum sees renewed interest as large buyers accumulate ahead of the FUSAKA Upgrade.
• BitMine buys $50.1M ETH, signaling potential confidence in post-upgrade market trends.
• Analysts forecast ETH targets $4,500 in January and $7,800 by March 2026.

Ethereum is now seeing new interest because of large buyers increasing their holdings throughout the current market correction. It has been anticipated that Ethereum would follow previous trends of rallying aggressively following an upgrade because it shows signs of increasing confidence among holders before this update.

At the time of writing, ETH is trading at $2,991.71, posting a 1.54% decline over the last 24 hours. Despite the dip, ETH remains one of the strongest digital assets in the market, supported by a $359.08 billion market cap and more than $14.84 billion in daily trading volume.

BitMine Makes Major Ethereum Purchase

Recently, an update shared by popular market analyst Ash Crypto showed that Tom Lee’s BitMine conducted a major accumulation strategy by acquiring $50.1 million’s worth of ETH.

The noticeable acquisition has brought debate among the crypto sector because when whales begin to hoard Ethereum, it can mean they know that market trends will favor ETH when upgrades occur.

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Ethereum Set For Major Breakout

Amidst this heightened eagerness, analyst Crypto Patel pointed out historical trends that hint at Ethereum being on the cusp of a monumental breakout soon after launching the FUSAKA upgrade scheduled on 3 December 2025.

Patel referred to Ethereum’s previous experience with upgrades, more precisely to “The Pectra Upgrade in May 2025,” which recorded large price actions. After this upgrade took place, “ETH was able to increase 55% over 35 days and 168% over 109 days,” which was among its strongest performances ever recorded afterward.

On a predicted path like ETH’s following the FUSAKA update, Patel forecasts a target price of $4,500 on 7 January 2026 and $7,800 on 22 March 2026. These forecasts alone can cause markets to rally because ETH soon enters one of the most pivotal technological upgrades on its development timeline.

Amidst growing whale holdings, bullish forecasts from analysts, and just weeks before a major network upgrade, ETH could well be laying the foundations for yet another major market rally. Today, market followers are eagerly awaiting how FUSAKA’s major upgrade will impact ETH’s market momentum at the start of 2026.

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