With on-chain data, ETF flows, and well-known trader commentary shaping the narrative.
What’s Driving the Surge?
As of today, ETH is trading between $2,950 and $3,000, up roughly 17% from last week’s lows and hitting a psychological resistance zone it hasn’t closed above since early February .
Spot Ethereum ETF inflows reached a record $907.99 million over the past week—marking the strongest week since launch—with $383.10M pouring in on July 10 alone .
Meanwhile, open interest in ETH futures spiked to $21 billion, signaling heightened leverage and trader conviction—yet another sign of institutional involvement .
How Twitter Traders Are Interpreting It
Merlijn The Trader (@MerlijnTrader) summed it up succinctly:
“Ethereum broke out of a falling wedge. A bull flag is now locking in. The target? $3,834. Ignore the noise.”
Another post added:
“The biggest $ETH ETF inflow in history just hit: $383M in a day... Institutions are front-running the next leg.”
On broader sentiment:
“Ethereum supply on exchanges is evaporating. Meanwhile, staking rates are surging to new highs. This isn't noise. This is how silent bull continues.”
Why It Matters Beyond Price Action
Supply squeeze is real: ETF inflows now exceed the weekly ETH issuance, reducing available supply. As posited by Glassnode data, more ETH is being locked in treasuries and staking than being released .
Network fundamentals still matter: Though Gas revenue is down and DEX volumes are soft, institutional positioning, staking demand, and activity in Layer-2s provide underlying strength .
Technical setups point higher: Merlijn's bull flag pattern lines up with on-chain squeezing behavior, supporting short to mid‑term targets between $3,300–$3,800. However, profit-taking could emerge if ETH fails to break clean resistance above $3,000 .
Final Thoughts on Positioning
This move isn’t just hype, but it’s not guaranteed. The rally has strong foundation—but markets can be fickle.
If you’re trading or investing:
Consider using dollar-cost averaging into dips around $2,900
Watch whether ETF inflows remain below 5‑day averages (~$200M/day) as a sign of weakening momentum
Monitor staking velocity—if staking rates slow, liquidity flood could reverse the sentiment
What Do You Make of It?
Merlijn sees a clear breakout pattern. Institutional inflows are back. Open interest is rising. Yet sentiment remains balanced—not euphoric.
Do you think ETH is on its way to $3,800—or are we facing a liquidity-fueled flash that fades fast?
Drop your view below or share comments from other analysts you’re watching. Let’s build clarity together.
