PANews August 11 news, CryptoQuant analyst CryptoOnchain pointed out that the Ethereum market leverage ratio is approaching historical highs (ELR reaching 0.68), with Binance's leverage ratio being lower (0.52), indicating that other exchanges are using leverage more. In addition, Binance's net inflow is significantly higher than the average level across all exchanges, which may indicate localized selling pressure risk.
Mid-term bullish factors include institutional demand and network growth: the daily net inflow of U.S. Ethereum spot ETFs reached a record of $726.6 million, with total holdings exceeding 5 million ETH (approximately $20.3 billion); Ark Invest and Fundamental Global purchased 30,755 ETH and allocated $200 million to Ethereum inventory, showing increased institutional confidence. Meanwhile, on-chain transaction volume reached new highs, staking participation continues to grow, regulatory support for liquid staking has been made clear, and the upcoming upgrades (Pectra, Fusaka) will further enhance Ethereum's scalability and usability.
Short-term volatility risks are intensifying, and high leverage, resistance testing, and exchange inflows may trigger severe downward fluctuations. However, strong institutional inflows, ETF demand, and network upgrades are expected to limit significant pullbacks and support a long-term upward trend. Key price levels: support range $3,980–$4,020, resistance range $4,450–$4,550.
