ETF Ethereum Money Dey Fuel 56% Rally as Futures Pass BTC
Ethereum don surge 56% for July reach three-year high of $3,862, e get over $5.37 billion spot Ethereum ETF inflows inside 19 consective days. BlackRock iShares Ethereum ETF cross $10 billion assets management just 251 days after dem launch am. For six days, Ethereum ETF inflows pass Bitcoin ETFs, show say investors dey switch mindset. For future market, Ethereum perpetual contract volume overtake Bitcoin first time in three years. Analysts see big cluster of short positions just above $4,000, whereby $930 million possible liquidation fit cause quick push go $4,500. But RSI dey show bearish divergence, mean say buying pressure dey weak. If e break $4,000 strong with volume, e fit bring more gains; if e fail, e fit drop back come $3,700 or as low as $3,200–$3,300.
Bullish
Plenti inflow of Ethereum ETF and one record ETF milestone don drive strong buying pressure, wey create bullish momentum. Di shift for perpetual futures volume wey pass Bitcoin plus di possible short squeeze above $4,000 dey hint say price fit still rise short term go reach $4,500. Even if RSI divergence show small caution, di main inflows and technical setup dey talk say di strength go continue. Long-term fundamentals like network revenue growth still dey low, but di current market dynamics favor better bullish outlook.