ETH Surges 5.84% as Institutional Inflows and ETF Demand Drive Bullish Momentum

Ethereum (ETHUSDT) has experienced a 5.84% price increase over the past 24 hours, with the current price at 2588.31 USDT and a 24-hour opening price of 2445.60 USDT, according to Binance data. The recent upward momentum is attributed to sustained institutional interest, highlighted by continued positive inflows into Ether exchange-traded funds for seven consecutive weeks, and broader market optimism linked to anticipated regulatory developments in the U.S. Additionally, technical indicators such as the approach toward the 200-day moving average and a rising Relative Strength Index (RSI) have contributed to bullish sentiment. However, notable long liquidations ($42.58 million) and some large withdrawals to exchanges suggest mixed short-term positioning among traders.

In the last 24 hours, Ethereum has seen robust trading activity, with a reported high of approximately 2619.28 USDT, a low of around 2431.56 USDT, and a 24-hour trading volume exceeding 1.77 billion USDT on Binance. The market capitalization stands near $313–315 billion, maintaining Ethereum’s position as the second-largest cryptocurrency by market cap.