ETH Surges 2.62% as Spot ETFs Attract $5.4B Inflows, Defying Market Volatility

Ethereum (ETHUSDT) experienced a 2.62% price increase over the past 24 hours, with the current price at $3,529.78 on Binance. The price movement is primarily attributed to a market rebound following recent weakness driven by concerns over new U.S. tariffs and disappointing jobs data, which led to significant liquidations of long positions across BTC and ETH. Despite these bearish pressures, including a large $171 million short position and negative funding rates, Ethereum saw renewed investor confidence as spot Ethereum ETFs recorded a record $5.4 billion in net inflows in July. This influx of capital, combined with retail investors buying the dip around $3,600, contributed to the recent price recovery.

Trading activity remains high, with 24-hour volumes reported between $18 billion and $34.5 billion and a market capitalization near $430 billion. Ethereum's price has fluctuated within a broad range, reflecting ongoing volatility amid mixed bullish and bearish signals in the market.