My lovely people, what's up! Here we are with the hot gossip about Ethereum (ETH), that crypto that has us all wide-eyed. It turns out that those with fat wallets, yes, the institutional investors!, are pouring money in and showing a confidence in ETH that I can't even tell you. 🔥

But the thing is that, despite these financial sharks betting heavily, the price of ETH is like a car in neutral, not moving much, just there, in a tight range! 🏎️💨

And how do we know that serious people are investing money in Ethereum? Well, look! There’s an indicator called the Coinbase Premium Index (IPC) for Ethereum, and that thing has been above zero all month. What does that mean? It means that investors from the United States are buying ETH as if there’s no tomorrow. They’re not selling, they’re accumulating! It’s like when you go to the supermarket and see that the price of something is good, so you buy more. Just like that! 🛒

This IPC is a thermometer that measures the price difference of ETH between Coinbase (which is widely used in the U.S.) and other international markets. If it's positive, it means Americans are paying a little more because demand is high over there. And if it's negative, then things are weak. But in this case, it's positive at 0.03!, which tells us that, even though the price isn't doing backflips, the demand from U.S. investors is still there, strong and clear! 💪

Also, hold onto your seats!, the exchange-traded funds (ETFs) of Ethereum have been receiving greenback inflows every week since May. Every week! That is a clear sign that big investors, the institutions, want a piece of the ETH pie, even with the price being a bit dull. 🍰

So, what's happening with the price? Well, ETH has been stuck in a range between $2,424 and $2,750 since early May. It's like it's trapped in a cage. But if institutional investors keep applying buying pressure and the market gets more optimistic, watch out!, because it could break that ceiling of $2,750 and, who knows, even reach $3,067! That would be quite a party! 🎉

But, as always, we need to stay alert. If things cool down and selling pressure increases, ETH could drop and test the support at $2,424, and if things get ugly, even down to $2,185. So let's stay attentive, my people, because this Ethereum story still has many chapters to write. Let's see if that caged bull breaks free and gives us a tremendous rally! 🚀$ETH