Ethereum (ETH) Price: Golden Cross Forms and $697M Floods In - Is $3,000 Next?

TLDR

• Ethereum climbed to its highest level since January, forming a golden cross on the daily chart
• US spot Ethereum ETFs pulled in $697 million last week, reversing the prior week’s outflows
• The staking ratio jumped to 35%, with 42.3 million ETH tokens now staked
• Short liquidations totaled $1.69 billion over three days, showing heavy bearish pressure
• Analysts have a near-term price target of $2,750, with $3,000 as the key psychological level

Ethereum (ETH) surged above $2,500 last week, reaching its highest price since mid-January. The rally came alongside strong institutional buying and a wave of short liquidations.

US spot Ethereum ETFs recorded $697 million in inflows last week. That reversed the previous week’s outflows of $2.2 million. ETFs have now taken in $939 million in August alone, well above July’s $365 million total.

BlackRock’s ETH fund leads all spot Ethereum ETFs with $7.8 billion in assets. Total assets across all US spot ETH funds now stand at $14.2 billion, with cumulative net inflows of $12.15 billion since launch.

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