In just 24 hours, Ether (Ethereum, ETH) surged over 7.6%, with the price reaching $3,614, marking a recent high. The driving forces behind this surge include substantial inflows from ETF funds, the technical breakout of key resistance levels, and large institutions making significant purchases. Market sentiment has shifted from pessimism to optimism, with the focus turning to whether ETH can sustain this strong rebound.
Institutional buying spree: ETH funds surge into ETFs and corporate treasuries.
The spot ETH ETF from the U.S. absorbed over $192 million in funds on July 15 alone, of which BlackRock's ETHA ETF contributed as much as $171 million in inflows, indicating that large asset management companies are actively deploying Ether.
Not only did ETFs perform well, but companies also joined the rush to acquire coins. Online gaming company SharpLink Gaming purchased 91,330 ETH (approximately $275 million) in the past seven days, while well-known crypto wallet addresses '0x9684' and '0x35fb' have swept in over $400 million worth of ETH across multiple exchanges.
Furthermore, BitMine Immersion Technologies has publicly held over $1 billion worth of ETH after completing a $250 million private financing, indicating that ETH is gradually becoming part of corporate asset allocation.
Technical Breakthrough: Key price levels conquered, bullish momentum is strong.
Technical analysis also supports this upward trend. ETH has successfully broken through the short-term high of $3,521.69 and, based on Fibonacci extension targets, is expected to challenge $3,903.85 (127.2% extension range).
Despite strong momentum, technical indicators also remind investors to remain cautious. The RSI-7 has reached 93.74, indicating that the market is in an extremely overbought state, which historically often occurs before short-term corrections. Additionally, the MACD histogram has reached +80.26, reflecting strong bullish momentum, but may face profit-taking risks as it approaches the technical resistance area near $3,980.
Policy Support: Nasdaq and SEC actions boost ETH's confidence.
In addition to funds and technical aspects, regulatory news has also played a role. Nasdaq recently submitted a proposal to the SEC allowing ETH ETFs to engage in staking, which could create additional revenue sources for ETF investors and attract more long-term holders.
At the same time, the U.S. Securities and Exchange Commission (SEC) has recently shifted its regulatory stance towards the cryptocurrency industry, signaling more exemptions and clearer classifications, providing greater assurance for the asset positioning and legitimacy of ETH.
ETH's dominance relative to Bitcoin (ETH/BTC) has also risen to 0.0283, setting a new high since March 2025, further indicating that funds are beginning to shift from Bitcoin to alternative coins (Altcoins) with greater growth potential.
The three major driving forces are simultaneously at play; does ETH still have endurance in the short term?
Overall, this breakthrough for ETH is driven by the influx of institutional funds, the technical chart breakout, and favorable policy news. However, the short-term technical indicators' overheating also remind the market that it may face a temporary consolidation or pullback.
Investors need to pay attention to whether Bitcoin's renewed challenge of the $120,000 mark will siphon market funds, affecting ETH's current ETF-driven surge. This will be an important indicator for observing future market trends.
This article discusses Ether breaking through the $3,600 mark! ETF funds surge, technical breakthroughs, and institutional buying all happen simultaneously. Originally appeared on Chain News ABMedia.
