Ethereum Aims for $3,000, What Factors Will Determine Its Fate?
Ethereum's daily increase reached 5.63%, returning to above $2,500. The current market is influenced by multiple factors that will determine whether it can challenge the $3,000 mark.
In terms of capital flow, traditional investors are selling ETH for profit, with a net outflow of $10.83 million from spot ETH ETFs in the last 24 hours, but institutional investors have become the main force driving the increase. If the net flow of spot ETH ETFs turns positive, the upward momentum will be stronger.
On the supply and demand side, the reserves of ETH on exchanges have dropped to 19.1 million, reducing selling pressure, while strong demand has led to a tightening of supply, providing support for price increases. In terms of market sentiment, breaking through $2,700 diverges from traditional strategies, sparking positive expectations.
Additionally, the Pectra upgrade on May 7 improved Ethereum's scalability and security, but its actual impact on price depends on the speed of ecological application implementation. Under the influence of multiple factors, if institutions, traditional investors, and spot traders actively participate, Ethereum is expected to break through $3,000 in the short term.
#ETH
Ethereum's daily increase reached 5.63%, returning to above $2,500. The current market is influenced by multiple factors that will determine whether it can challenge the $3,000 mark.
In terms of capital flow, traditional investors are selling ETH for profit, with a net outflow of $10.83 million from spot ETH ETFs in the last 24 hours, but institutional investors have become the main force driving the increase. If the net flow of spot ETH ETFs turns positive, the upward momentum will be stronger.
On the supply and demand side, the reserves of ETH on exchanges have dropped to 19.1 million, reducing selling pressure, while strong demand has led to a tightening of supply, providing support for price increases. In terms of market sentiment, breaking through $2,700 diverges from traditional strategies, sparking positive expectations.
Additionally, the Pectra upgrade on May 7 improved Ethereum's scalability and security, but its actual impact on price depends on the speed of ecological application implementation. Under the influence of multiple factors, if institutions, traditional investors, and spot traders actively participate, Ethereum is expected to break through $3,000 in the short term.
#ETH
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