Alongside Ethereum, the broader cryptocurrency market is also in the green: Bitcoin is up 1.40% to $106,160, while the remaining altcoin market capitalization has increased by 0.55% to $830 billion. Bitcoin’s dominance now stands at nearly 65%, approaching the highs from early May this year, when dominance peaked at 65.35%. Bitcoin hasn’t held similar dominance levels since January 20, 2021.
However, in recent weeks, capital has been gradually shifting toward Ethereum. Institutional investors are beginning to accumulate the second-largest cryptocurrency in anticipation of upcoming crypto market adoption in the U.S. Later this year, new regulations are expected for both the stablecoin sector and the broader DeFi space—both of which primarily rely on Ethereum as their settlement layer.
Ethereum-focused funds have begun aggressively accumulating ETH over the past five weeks, with particularly notable inflows into BlackRock’s Ethereum ETF.
Cumulative inflows into ETFs over the last 20 days are also showing a strong upward trend. This trend has persisted since late March, when sentiment around Ethereum was extremely negative. Currently, cumulative 20-day inflows exceed $1.2 billion.
Ethereum remains in a narrow consolidation range. Considering the prevailing uncertainty in global financial markets, this consolidation and defense of the $2,500 support level is a positive sign for bulls. The key will be a sustained breakout above the $2,750 resistance zone.
The material on this page does not constitute financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other specific needs. All information provided, including opinions, market research, mathematical results and technical analyzes published on the Website or transmitted To you by other means, it is provided for information purposes only and should in no way be construed as an offer or solicitation for a transaction in any financial instrument, nor should the information provided be construed as advice of a legal or financial nature on which any investment decisions you make should be based exclusively To your level of understanding, investment objectives, financial situation, or other specific needs, any decision to act on the information published on the Website or sent to you by other means is entirely at your own risk if you In doubt or unsure about your understanding of a particular product, instrument, service or transaction, you should seek professional or legal advice before trading. Investing in CFDs carries a high level of risk, as they are leveraged products and have small movements Often the market can result in much larger movements in the value of your investment, and this can work against you or in your favor. Please ensure you fully understand the risks involved, taking into account investments objectives and level of experience, before trading and, if necessary, seek independent advice.
