Key Highlights
- Ethereum’s value surged 4.80%, reaching $2,752.53 and breaking through the $2,700 barrier as momentum builds toward $3,000.
- BitMine purchased an additional 27,562 ETH over the past week, expanding total reserves to 5,983,940 ETH valued at approximately $17.1 billion.
- Spot Ethereum ETFs in the United States displayed volatile flows, recording $140 million in weekly withdrawals before rebounding with $143.8 million in single-day deposits.
- Derivatives market activity surged dramatically, with trade volumes jumping 78.93% to reach $74.55 billion.
- Critical resistance for ETH appears near $2,786, while key support levels are positioned around $2,626 and $2,537.
The value of Ethereum jumped 4.80% during the past 24-hour period, settling at $2,752.53. This upward movement brought ETH within striking distance of the $2,800 barrier and sparked renewed speculation about a potential advance toward the $3,000 psychological level.
The broader cryptocurrency ecosystem experienced a 5.23% increase, elevating the combined market capitalization to $2.91 trillion. Bitcoin momentarily crossed the $86,000 threshold—representing an eight-month peak—and contributed approximately $568 billion to its market valuation.
The Crypto Fear and Greed Index climbed to 79, reflecting a substantial departure from the intense bearish sentiment observed during February.
Corporate Accumulation Persists
BitMine acquired an additional 27,562 ETH throughout the previous week, maintaining an accumulation strategy that began on June 30, 2025. The company’s current position stands at 5,983,940 ETH, representing nearly 5% of Ethereum’s circulating supply.
However, not all indicators suggested continued strength. Spot Ethereum ETFs in the United States experienced $140 million in net withdrawals over the week, breaking a four-week streak of positive inflows. This outflow trend reversed sharply on Friday with $143.8 million in net deposits, halting a three-day decline.
Futures Market Heats Up
Activity in Ethereum derivatives markets intensified alongside spot price appreciation. Total trading volume climbed 78.93% to $74.55 billion, while aggregate open interest expanded 6.48% to $36.69 billion.
Options trading volume surged 79.13% to $2.14 billion. Approximately $648 million in short positions were forcibly closed as Bitcoin’s strong performance triggered widespread liquidations among bearish traders.
Market analyst Ted (@TedPillows) observed on X that ETH successfully closed the previous week above $2,550 while maintaining upward momentum. He suggested Ethereum might reach the $2,900 to $3,000 zone before encountering a potential pullback.
The Relative Strength Index currently registers 76.58, entering territory typically associated with overbought conditions. Meanwhile, the Chaikin Money Flow indicator reads 0.40, suggesting continued positive capital movement into the asset.
Ethereum’s recent decline beneath $2,400 occurred following the Senate’s rejection of the Clarity Act and a rate increase by the Federal Reserve. Demand materialized near the realized price level of $2,310, propelling ETH back above $2,700.
Exchange flow metrics indicate that deposits have exceeded withdrawals in recent sessions, suggesting some market participants are taking profits during the rally. The Coinbase Premium Index has begun trending upward despite remaining below neutral.
The Taker Buy Sell Ratio shifted to bearish territory on Monday following a positive weekend trend. Ethereum recorded $224.7 million in total liquidations across the 24-hour period, with $191 million attributed to short position closures.
Technical analysis of the daily chart shows ETH trading above its 20-day, 50-day, 100-day, and 200-day exponential moving averages. Immediate resistance appears at $2,786, with subsequent barriers at $2,894 and $3,177. Support levels are established near $2,626, $2,544, and the 20-day EMA at $2,537.
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