🔥 Ethereum surges past $3600! Institutions frenzy, ETF explosion, next stop $4000?
This morning, Ethereum strongly broke through the $3600 USDT barrier, soaring 7.53% in 24 hours, closing at $3602 USDT. This is not only a victory from a technical standpoint but also a result of the capital frenzy resonating with the on-chain ecosystem!
💥 Three engines behind the surge
ETF fund influx at a nuclear level
The US spot ETH ETF saw a net inflow of $717 million in a single day (July 16), setting a historical peak! BlackRock's ETHA accounted for $489 million, while Fidelity's FETH contributed $113 million, with institutional holdings now exceeding 4% of ETH's circulating supply. This month alone has seen over $2.27 billion in inflows, with buying power fully unleashed!
Public company "ETH hoarding wave"
Nasdaq-listed SharpLink Gaming splurged $213 million to increase its holdings by 74,000 ETH, bringing total holdings to 280,000 ETH (approximately $5.6 billion), surpassing the Ethereum Foundation to become the largest institutional holder;
Companies like Bit Digital and GameSquare have included ETH on their balance sheets, with 53 listed companies collectively hoarding 1.6 million ETH ($530 million).
Technical "golden cross" ignited
The 50-day and 200-day moving averages have formed a golden cross, the daily chart has broken through the "bull flag" pattern, targeting $3600! The Relative Strength Index (RSI) has shown a rare "buy signal" in April, with historical patterns indicating a potential cycle target of $7000-$10000.
🚨 Opportunities and risks coexist
On-chain indicators are hot: staking volume exceeds 35 million ETH, circulation tightening intensifies; Total Value Locked (TVL) skyrocketed to $78.2 billion (a 3-year high), with weekly network fees surging by 139%.
Short-term overbought signals: RSI reached 79, Bollinger Bands broke the upper band, caution is advised regarding profit-taking pressure. If it holds the $3300 support, an attack on $4000 is possible; if it fails, a pullback to the $2900 range may occur.
💎 Investor strategy
"This is not a retail frenzy, it's a whale war!" (Analyst Blazey Crypto)
Short-term: Keep an eye on the $3500 key resistance; breaking through opens up upward space;
Long-term: Q4 Ethereum "Pectra upgrade" + Federal Reserve interest rate cut expectations may ignite a new round of market momentum!
👉 Follow on-chain data and ETF fund flows, let institutions lift you up!
