Ethereum price continues to struggle around $2,500, with the ETH/BTC trading pair reaching its lowest level since April 2021.
Bitcoin is seeing partial recovery to $68,000, with a record $4.5 billion in options expiring today. Ethereum also has a substantial options expiry worth $1.01 billion, or 403,426 contracts.
Ethereum sentiment has turned negative as investors reportedly shift to SOL and ETH.
The US spot Ethereum ETF issuers reported a total net cash outflow of about $20.8 million on Monday, amid a notable whale sell-off on CEXs.
Despite the institutional investors favoring Bitcoin over Ethereum as shown by the US spot ETF market, the latter has outshined the former in the recent bullish breakout.
As part of the upcoming “Scourge” upgrade, Ethereum co-founder Vitalik Buterin addresses the risks of staking centralization in the Ethereum network and proposing several strategies to mitigate these risks.
The rising demand for Ethereum, as shown by notable cash inflows to US spot Ether ETFs in the recent past, is a major boost for the ongoing bullish outlook.
Vitalik Buterin outlined Ethereum’s scalability roadmap, known as “Surge,” aiming for 100,000 transactions per second (TPS) across the mainnet and Layer-2 (L2) blockchains.
Several technical indicators and fundamental aspects point to a potential bullish breakout for Ethereum price in the near term towards its all-time high.
Ethereum price has rebound positively as Vitalik Buterin hinted at plans to enhance the future of the Layer 1 blockchain.
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Amid the ongoing crypto consolidation, Ethereum price has established a support level around $2,300 but low demand from institutional investors could weigh down on bullish sentiment.
The Ethereum market has faced immense selling pressure in the recent past emanating from whale selling led by the US spot Ether ETF issuers.
Ethereum remains an undisputed leader in the Web3 space, supporting dozens of layer two chains and hundreds of DeFi protocols.
The US spot Ethereum ETF registered zero cash inflow on Monday compared to more than $235 million recorded by the spot Bitcoin ETFs on the same day.