It is trading at $4,591.62, up 8.22% over the last 24 hours and 20.74% over the last 30 days

Market capitalization has reached $553.92 billion with a trading volume of $41.74 billion

Strong optimism prevails with 97.52% of margin traders in long positions

The buy/sell ratio is 39.36, heavily skewed towards bullish speculation

Significant increase in institutional adoption

The fund now holds 3.6 million ETH, which is roughly equivalent to Coinbase's reserves

Corporate treasuries and mutual funds hold about 5% of the total ETH supply

The large holders' wallets have recently accumulated $69 million in ETH

Fidelity and BlackRock products enhance market legitimacy and liquidity

Technical outlook and risks

Supports have formed around the $4,540-$4,550 level

Bollinger Bands indicate a bullish accuracy of 57.58%

Main risks: auditor withdrawals that could release $4 billion worth of ETH

Outflows from short-term exchange-traded funds (ETF) worth $197 million indicate profit-taking

Trading strategies

Consider gradually entering positions near support areas

Monitor exchange-traded fund (ETF) flows and auditor activity to determine market direction

The presence of the Relative Strength Index (RSI) in the overbought area indicates potential resistance at the $4,620-$4,700 level