💰 $ETH Ethereum Surges with Strong Influx of Institutional Funds into ETFs.

The Ethereum (ETH) market is on the rise! The cryptocurrency has recorded an increase of over 14% in the last 24 hours, reaching a value of $4,789.63, with a market capitalization of $585.65 billion. This upward movement is driven by growing interest from major investors.

Institutional Activity and the ETF Market

The inflow of funds into Ethereum ETFs has surpassed that of Bitcoin by 41%, indicating a clear shift in institutional preference. In the last 30 days, ETH ETFs have captured $7.9 billion, totaling $26 billion in assets. BlackRock, for example, attracted over $1 billion in a single day.

Additionally, large investors (also known as "whales") have accumulated over 78,265 ETH since April, which has reduced the circulating supply by about 8%.

What to Expect from the Price?

From a technical standpoint, Ethereum has broken through the resistance of $4,500 and is now targeting the next psychological level of $5,000. With a buyer/seller index of 53.6, the bullish bias remains strong.

Important support levels are at $4,500 and $4,200, while the next resistance is at $4,850 and $5,200.

What do you think about this bullish trend of Ethereum? Do you believe that institutional preference for ETH will continue? Leave your opinion in the comments! #eth #Ethereum