- Binance latest Proof of Reserves report reveals a $223 million drop in Bitcoin and USDT holdings as users shift capital into Ethereum.
- Binance users increased their ETH holdings in June, signaling growing investor confidence ahead of a potential breakout above $2,700.
Binance Traders Shift Gears: Ethereum Gathers Steam
Binance’s June 2025 Proof of Reserves (PoR) report has uncovered a quiet but telling move among crypto investors: a significant rotation from Bitcoin and Tether into Ethereum. According to the data, user Bitcoin holdings fell 1.82% to 593,000 BTC, while Ethereum holdings rose by 1.05% to 5.34 million ETH. Meanwhile, Binance users shed a combined $223 million in BTC and USDT.
This strategic shift suggests that investors are preparing for a potential Ethereum breakout, fueled by surging network activity and renewed optimism in the broader crypto market.
Capital Rotation into ETH Signals Growing Confidence
Market analyst Ted Pillows highlights a bullish phase for Ethereum, noting the asset is “still consolidating after a bullish May.” With Ethereum ETF inflows picking up and network usage reaching its highest in a year—processing 41.98 million transactions in May—confidence appears to be building.
Pillows predicts ETH will break $3,000 this June, possibly reaching $4,000 by Q3 2025 if momentum continues.
Key Resistance Levels: Will Ethereum Break $2,700?
At the time of writing, Ethereum trades near $2,482. Technical indicators suggest that the immediate resistance levels are $2,558 and $2,700—key Fibonacci retracement zones. A confirmed breakout above $2,700 could open the door to $2,929 and possibly even $3,301.
However, indicators remain cautious. The Relative Strength Index (RSI) hovers at 50.62, signaling market indecision, while the MACD has flattened, suggesting that bulls need a catalyst to ignite the next leg up.
Ethereum in Focus as Momentum Builds
With Binance traders reallocating significant capital into ETH and network fundamentals on the rise, Ethereum appears to be gearing up for a potential breakout. If it clears the $2,700 resistance, the next few weeks could bring explosive upside, possibly validating analysts’ forecasts of a $4,000 rally.
