You're looking for a report on Ethereum's (ETH) performance and relevant news over the last 8 days, specifically from June 4, 2025, to June 12, 2025.
Here's a summary of ETH's price action and key news/sentiment during that period:
Summary of ETH Price Performance (June 4 - June 12, 2025):
The last 8 days for Ethereum have been characterized by a significant rebound and strong upward momentum, breaking through key resistance levels and reaching multi-month highs.
Here's a day-by-day approximate closing price (USD):
* June 4, 2025: Around $2,414 - $2,595 (Some data shows a drop on this day before the rally began)
* June 5, 2025: Around $2,475 - $2,610
* June 6, 2025: Around $2,524 - $2,421
* June 7, 2025: Around $2,509 - $2,481
* June 8, 2025: Around $2,680 - $2,526 (Significant jump here)
* June 9, 2025: Around $2,815 - $2,508 (Further increase)
* June 10, 2025: Around $2,762 - $2,685 (Slight pullback after previous gains)
* June 11, 2025: Around $2,808 - $2,790 (Continued strong performance, hitting 15-week highs)
* June 12, 2025 (Current): Trading around $2,790.
Key Trends and Observations:
* Significant Rally: From early June lows, ETH has rallied substantially, with reports indicating a 14% rally and a 70% surge over the last two months, outperforming Bitcoin and Solana in the short term.
* Breaking Resistance: ETH has successfully pushed through and established support above critical resistance levels, notably around the $2,700 mark. It tested and, in some cases, broke above $2,800 and even briefly touched $2,835 on June 11th.
* Bullish Technical Indicators: Several technical indicators have turned bullish:
* ETH is trading above its 50-day and 200-day Exponential Moving Averages (EMAs), which is generally a strong bullish signal.
* The Relative Strength Index (RSI) has moved into a strong position, sometimes testing the overbought region, indicating strong buying momentum.
* Bollinger Bands are expanding, suggesting increased volatility in the upward direction.
* The MACD (Moving Average Convergence Divergence) also indicates a bullish trend.
* Increased Volume: The price surge has been accompanied by sustained and increasing trading volume, which lends credibility to the upward movement.
* Key Resistance Ahead: While showing strong gains, ETH is still facing significant resistance levels around $2,850, and then crucial psychological levels like $3,000 to $3,148. The ability to flip these into support will be key for further appreciation.
Key News and Drivers (June 4 - June 12, 2025):
The primary drivers behind this recent surge appear to be:
* BlackRock's Continued Ethereum Accumulation:
* BlackRock, the world's largest asset manager, has been actively investing in Ethereum through its iShares Ethereum Trust (ETHA).
* Notably, on June 4 alone, BlackRock reportedly acquired approximately $73.2 million worth of ETH.
* Further reports mention BlackRock buying $34.7 million in ETH on June 6th and even launching an Ethereum ETF on Nasdaq with $25 million in inflows around June 7th. This consistent institutional buying is a massive confidence booster for the market.
* Anticipation and Progress on Spot Ethereum ETFs (especially in the US): While some approvals might have happened earlier, the ongoing discussions, filings, and eventual trading of spot Ethereum ETFs in major markets (like the US) continue to be a significant catalyst, signaling mainstream adoption and easier access for traditional investors.
* Positive Regulatory Sentiment (implied): Discussions around US stablecoin bills advancing and comments from figures like SEC Chair Atkins regarding DeFi vision might be contributing to a more favorable regulatory outlook, reducing some of the previous uncertainty surrounding crypto.
* Ethereum Network Fundamentals: The successful "Pectra" upgrade (which launched in May 2025, just before this period) and ongoing developments towards future scalability improvements continue to bolster confidence in Ethereum's utility and long-term viability as the leading dApp platform.
* Short Squeeze Potential: Reports on June 11th indicated that a highly leveraged short seller could lose $114 million if ETH rose by just another $80. This situation creates a potential for a "short squeeze," where short sellers are forced to buy back ETH to cover their positions, further driving up the price.
* Outperformance vs. Bitcoin: ETH has been noted for outperforming Bitcoin in this recent rally, leading to discussions about a potential "altcoin season" where altcoins see significant gains.
In conclusion, the last 8 days have seen Ethereum experience a strong bullish run, fueled primarily by significant institutional interest, positive developments surrounding ETFs, and general improvement in market sentiment. However, the market remains dynamic, and short-term movements will continue to be influenced by news flow and technical indicators.
