#TraderLeauge

ETH's Bullish Outlook: Breakthrough of $2,793 Could Target $3,500-$4,000**

The amount of staked Ether (ETH) has surged by over 650,000 since the beginning of the year, hitting a record high of **34.653 million** by June 8. This represents nearly **30% of ETH’s total circulating supply**, signaling strong investor confidence in Ethereum’s long-term potential.

### **Ether vs. Bitcoin ETFs: Diverging Trends**

Ethereum-based ETFs have seen impressive demand, with a **15-day winning streak** attracting **$837 million** in inflows. In contrast, Bitcoin ETFs have experienced mixed performance since late May, with periods of outflows or minimal inflows. Some analysts interpret this as a potential shift in market dominance from Bitcoin to ETH and other altcoins.

### **Pectra Upgrade Fuels ETH’s Rally**

The recent **Pectra upgrade** (implemented on May 7) introduced **11 Ethereum Improvement Proposals (EIPs)**, marking Ethereum’s **"most feature-rich"** upgrade yet. Following the upgrade, ETH surged from **$1,800 to $2,500 in just 48 hours**. As of now, ETH is trading **above $2,700**, up **~50%** since the upgrade.

### **Key Price Levels to Watch**

While ETH has largely held above **$2,500**, analysts warn that a sustained drop below **$2,320** could lead to a decline toward **$2,000-$1,800**. However, if ETH breaks through the **$2,793 resistance**, the next target could be **$3,500-$4,000**.

**B2BINPAY Analytics Team’s Outlook:**

- *Bearish Scenario:* A drop below **$2,320** may push ETH toward **$1,800-$2,000**.

- *Bullish Scenario:* Breaking **$2,793** could trigger a rally to **$3,500-$4,000**—a more probable outcome, in their view.

With strong staking growth, ETF inflows, and a major protocol upgrade, Ethereum’s bullish momentum could soon test new highs. 🚀