Ethereum rose 4.18% to $4,251.48 in the past 24h, building on a 23.5% weekly surge.
Key drivers:
- ETF inflows surge – $461M flowed into ETH ETFs on August 8, led by BlackRock/Fidelity.
- Institutional accumulation – Whales bought 1.035M ETH (~$4.17B) since July at $3,546 avg.
- Technical breakout – Price cleared $4,000 resistance, retesting Fibonacci support at $4,155.
Deep Dive
1. ETF Demand Accelerates (Bullish Impact)
Overview: U.S. spot ETH ETFs saw $461M inflows on August 8 – their second-largest daily total ever – while BTC ETFs drew $281M. BlackRock’s ETHA fund led with $301M, per TokenTopNews.
What this means:
– Institutions are front-running ETH’s growing dominance in real-world assets (80% market share) and DeFi ($61.8B TVL).
– ETF buying absorbs ~57k ETH daily (vs. 3k new ETH issued), creating structural scarcity.
What to watch: Sustained inflows above $300M/day could push ETH toward $4,500.
2. Whale & Institutional Stacking (Bullish Impact)
Overview: Entities acquired 1.035M ETH ($4.17B) since July 10 via OTC deals and exchanges, per EmberCN. SharpLink Gaming alone bought 10,000 ETH ($25.7M) from the Ethereum Foundation on July 10.
What this means:
– Corporate treasuries now hold 2.7M ETH ($11.5B), locking supply via staking/restaking.
– Reduced exchange liquidity (-99,300 ETH in 24h) raises squeeze risks for shorts.
3. Technical Momentum (Mixed Impact)
Overview: ETH broke a multi-year ascending triangle at $4,000, with RSI14 at 73 (overbought) and MACD bullish divergence.
What this means:
– The 4-hour chart shows ETH above all key EMAs ($3,749 EMA20), but overextension risks grow above $4,200.
– Critical support: $4,155 (previous resistance) – a close below could trigger 5-8% correction.
Conclusion
Ethereum’s rally combines institutional ETF flows, strategic supply absorption by treasuries, and technical momentum. While bullish sentiment is dominant (social media “buy” mentions 2x “sell”), leverage risks loom with $685B open interest in derivatives.
Key watch: Can ETH hold above $4,155 through the weekly close (August 11)? Failure here might invite profit-taking from its 68% 90-day gain.