Ethereum Price Surges to $3,247 with $67M in ETF Inflows
Bitcoin trades near $104,000, while Ethereum has surged by 4.29% to close at $3,247.
Ethereum Price Analysis
Key points:
- Ethereum shows a bullish trend from local support.
- A morning star pattern and bullish engulfing candle indicate potential breakout.
- Price has reached the psychological mark of $3,250.
- Technical indicators like MACD signal a buy opportunity.
ETF Inflows and Institutional Support
Recent ETF activity includes:
- Three major Ethereum ETFs purchased over $100 million in ETH on January 30.
- Daily net inflow recorded at $67.77 million, with BlackRock acquiring $79.86 million.
- Fidelity and Grayscale also contributed with purchases of $15.41 million and $12.79 million, respectively.
- Total net assets under Ethereum ETFs stand at $11.78 billion.
Increased Whale Activity
Whale interest indicates a potential uptrend:
- Whales bought over 100,000 ETH during recent price dips.
- A significant transaction involved a whale purchasing 1,531 ETH for 5.01 million USDC.
- This whale now holds 3,005 ETH valued at $9.85 million.
Overall, Ethereum demonstrates strong institutional support, favorable technical indicators, and increased whale accumulation, positioning it for a possible breakout above $4,000 in the coming days.