Ethereum Sees $547M Institutional Inflows; Traders Bet on Q4 Breakout
Ethereum (ETH) has seen significant institutional interest, with ETFs attracting $547 million in inflows led by Fidelity and BlackRock. Futures open interest remains high, and traders are positioning for further gains.
Institutional investors have been actively buying Ethereum ETFs. Fidelity and BlackRock led the inflows, adding $202 million and $154 million respectively. This trend reflects growing confidence in Ethereum's prospects.
Derivatives markets also indicate bullish positioning. The long-to-short ratio on Binance stands at 1.8, and among top traders, it's 2.7. This signals that traders are anticipating further price increases. Open interest in futures remains elevated near $56 billion, with daily volumes climbing 38% to $72 billion.
Technical analysis suggests an 80-100% breakout potential in Q4, with a medium-term target of $5,766 if momentum continues. Ethereum found a potential bottom at $3,900 after recent market fluctuations. However, the 25-day and 50-day simple moving averages are currently acting as near-term resistance.
Ethereum's recent price action has been driven by institutional interest, with significant inflows into ETFs and bullish positioning in derivatives markets. While near-term resistance remains, the outlook suggests potential for further gains in the coming quarter.
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