Ethereum ETF Momentum Builds Up as ETH Eyes $5k Next
Heightened interest in new crypto ETFs and a bullish pattern emerging have sent Ethereum higher in the past month. Inflows for current ETH ETFs are on the rise as the asset outpaces Bitcoin and other top crypto assets. As a result, Ethereum is up as much as 56% in the last 30 days and is poised to go higher. Traders are closely watching technical levels and broader sentiment for clues on where the market may go next. Ethereum’s price soared from $2,468 at the start of the month to $3,862. Bloomberg’s Eric Balchunas likened Ethereum’s current trajectory to the rise of 90s tech stocks, driven by explosive adoption and investor excitement. Over a 19-day stretch in July, spot ETH ETFs pulled in $5.37 billion, including a single-day high of $727 million. Most price forecasts have Ether testing new record levels in the coming month, with a return to $4k being the first step. Analysts at CoinCodex project ETH topping $4,000 in a matter of weeks, with $ 4,305.31 being the potential high...
