Ethereum Hits $4,600 on ETF Inflows and Corporate Buys
Ethereum price surged past $4,600 — its highest level since December 2021 — driven by record ETF inflows and corporate treasury purchases. On August 11, Ethereum spot ETFs saw a net inflow of $1 billion, while Bitmine Immersion Technologies and Sharplink boosted their ETH holdings with multi-billion dollar raises. Fed rate cut expectations after softer US CPI data have further fueled demand. In the past month, the ETH/BTC ratio climbed nearly 50%, reflecting renewed investor interest.
Open interest in ETH futures reached a record $62.7 billion. Network scalability upgrades and the US GENIUS Act have clarified regulation and support long-term adoption of Ethereum. Traders should watch ETF flows, Fed policy signals, and technical levels — resistance at the 161.8% Fibonacci extension near $4,868 and key support at $4,100 — to identify entry and exit points in this extended rally.
Bullish
Record ETF inflows and corporate treasury purchases indicate strong institutional demand for Ethereum, while Fed rate cut bets and regulatory clarity via the GENIUS Act support continued adoption. The surge past key technical levels, coupled with high futures open interest and a rising ETH/BTC ratio, suggests bullish momentum. In the short term, traders may see further upside if ETF inflows persist and policy remains dovish, though overbought indicators near the 161.8% Fibonacci extension could prompt a minor pullback. Long-term prospects remain positive due to network upgrades and expanding DeFi applications.