Ethereum jumps nearly 30% to $2,546 driven by ETF inflows and short squeezes
Ethereum surged 29.8% over the past week, reaching a high of $2,546 fueled by strong inflows into Ethereum ETFs, short covering, and reduced exchange supply. Spot ETFs attracted nearly $700 million in net inflows, with major players like Blackrock leading demand. The rally was supported by a shrinking supply of ETH on exchanges and increased futures activity, although liquidations hit $265 million amid volatile trading. Traders are watching key support levels around $2,400 and the impact of ETF flows for the coming days as Ethereum's market dominance approaches 11%.
Ethereum surged 29.8% over the past week, reaching a high of $2,546 fueled by strong inflows into Ethereum ETFs, short covering, and reduced exchange supply. Spot ETFs attracted nearly $700 million in net inflows, with major players like Blackrock leading demand. The rally was supported by a shrinking supply of ETH on exchanges and increased futures activity, although liquidations hit $265 million amid volatile trading. Traders are watching key support levels around $2,400 and the impact of ETF flows for the coming days as Ethereum's market dominance approaches 11%.
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