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Bullish
Ethereum Price Forecast: Investors bought $1.2 billion of ETH as crucial pattern suggests $5,000 surge
In the previous five days, exchanges sold approximately $1.2 billion in ETH to investors.
Ethereum investment goods netted $2.2 billion in 2024, a record.
If Ethereum sustains a rounded bottom pattern, it might reach $4,868, its all-time high.
Despite strong accumulation on spot exchanges and investment
ETH investors withdraw $1.2 billion from exchanges as investment products reach record.
Since November 28, the ETH Exchange Reserve, which tracks exchange-held currencies, has fallen. Investor purchasing increases as exchange reserve coin values fall.
Coinglass data shows $24.2 million inflows for US spot Ethereum ETFs on December 2, the sixth straight day of positive flows.
According to CoinShares' digital assets weekly report, Ethereum investment products had $634 million inflows last week.
Inflows have surpassed their 2021 record of ~$2 billion, with total annual net flows reaching $2.2 billion, according to CoinShares analysts.
Ethereum co-founder Vitalik Buterin suggested wallet developers enhance cross-L2 transaction security, privacy, and user experience.
"A user only benefits from any decentralization, censorship resistance, security, privacy, or other properties that Ethereum and its applications offer to the extent that the wallet itself also has these properties," Buterin said in a post.
Coinglass data shows Ethereum trading at $3,570 with $49.13 million in liquidations in the previous 24 hours. They liquidated $37.62 million and $11.52 million in long and short bets.
Ethereum is challenging $3,578 after rejecting descending trendline resistance, which it rose above last week to confirm a rounded bottom.
ETH might challenge the falling trendline resistance again if it rebounds off $3,578 or $3,410. If ETH breaks above this level, it might complete the rounded bottom pattern with a 35% rally to $4,868, its all-time high.
#ETHOnTheRise #AIAndGameFiBoom #MicrosoftBTCInvestmentVote $ETH
In the previous five days, exchanges sold approximately $1.2 billion in ETH to investors.
Ethereum investment goods netted $2.2 billion in 2024, a record.
If Ethereum sustains a rounded bottom pattern, it might reach $4,868, its all-time high.
Despite strong accumulation on spot exchanges and investment
ETH investors withdraw $1.2 billion from exchanges as investment products reach record.
Since November 28, the ETH Exchange Reserve, which tracks exchange-held currencies, has fallen. Investor purchasing increases as exchange reserve coin values fall.
Coinglass data shows $24.2 million inflows for US spot Ethereum ETFs on December 2, the sixth straight day of positive flows.
According to CoinShares' digital assets weekly report, Ethereum investment products had $634 million inflows last week.
Inflows have surpassed their 2021 record of ~$2 billion, with total annual net flows reaching $2.2 billion, according to CoinShares analysts.
Ethereum co-founder Vitalik Buterin suggested wallet developers enhance cross-L2 transaction security, privacy, and user experience.
"A user only benefits from any decentralization, censorship resistance, security, privacy, or other properties that Ethereum and its applications offer to the extent that the wallet itself also has these properties," Buterin said in a post.
Coinglass data shows Ethereum trading at $3,570 with $49.13 million in liquidations in the previous 24 hours. They liquidated $37.62 million and $11.52 million in long and short bets.
Ethereum is challenging $3,578 after rejecting descending trendline resistance, which it rose above last week to confirm a rounded bottom.
ETH might challenge the falling trendline resistance again if it rebounds off $3,578 or $3,410. If ETH breaks above this level, it might complete the rounded bottom pattern with a 35% rally to $4,868, its all-time high.
#ETHOnTheRise #AIAndGameFiBoom #MicrosoftBTCInvestmentVote $ETH
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