🔥🔥$ETH : Structural catalysts are driving a structural market, and the main players have already laid the groundwork
Recently, Ethereum is brewing a round of structural upward movement, with core driving factors coming from the resonance of policy, technology, and capital in three aspects:
1. ETFs continue to attract capital, becoming a new price anchor
Last week, the ETH spot ETF led by BlackRock saw a net inflow of $394 million, accounting for 40.2% of the total market inflow, with ETF assets nearing 5%. The liquidity and price discovery mechanism are gradually transitioning from exchanges to ETFs.
2. Strengthened policy expectations
The CLARITY Act clearly defines ETH as a “commodity,” clearing regulatory obstacles for institutional investors. The upper limit on pension and traditional institutional allocations has been relaxed, providing ample potential incremental capital in the future.
3. Technological upgrades support ecosystem growth
The “Cancun upgrade” has reduced on-chain gas fees by 85%, significantly improving DeFi operating efficiency, with the current daily on-chain settlement amount exceeding $12 billion, indicating a noticeable recovery in network activity.
4. Structural capital rotation is evident
BTC ETFs have experienced continuous net outflows over the past three weeks, with funds shifting towards ETH. Hedge fund long positions in ETH have increased to 68%, and on-chain whales continue to accumulate, indicating high confidence in the mid-term market performance.
Technical formation analysis:
ETH/USD is forming a typical “cup and handle” pattern; if it breaks above $3800, a clear bullish trend will form, targeting above $4100. The current ETF premium is between 1.2% and 2.8%, providing space for short-term arbitrage.
Operational advice:
Conservatives can build options strategies around the key support level of $3500. The medium-term bullish outlook remains unchanged; waiting for volume confirmation will serve as an entry signal.
