Ethereum surges with $461M ETF inflows – Will ETH break its ATH?
Main Idea
Ethereum (ETH) is experiencing significant growth due to strong ETF inflows and institutional interest, positioning it close to a potential new all-time high.
Key Points
1. Ethereum ETFs saw $461 million in inflows in a single day, outpacing Bitcoin ETFs, with BlackRock, Fidelity, and Grayscale leading the purchases.
2. ETH's price remained strong at $4,190, above key moving averages, with momentum indicators like RSI (69.8) and MACD showing bullish signals.
3. ETH is within $700 of its all-time high of $4,891, suggesting potential for price discovery this year if the current trend continues.
4. On-chain trends and institutional buying indicate growing demand and market commitment, though profit-taking could pose a risk.
Description
With BlackRock, Fidelity, and Grayscale leading the buying spree, Ethereum’s breakout looks increasingly credible.
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