Ethereum Nears Golden Cross Amid 134% Address Spike Institutional Interest

Cryptocurrency markets have demonstrated resilience and optimism despite the broader economic turmoil. Ethereum, the second-largest cryptocurrency by market capitalization, is nearing a Golden Cross formation, a technical indicator that suggests a potential long-term bullish trend. This formation occurs when the 50-day Simple Moving Average (SMA) crosses above the 200-day SMA, signaling a shift in trend favoring bulls. This technical signal, coupled with a $100 million purchase by BlackRock and a 134% spike in new addresses joining the Ethereum blockchain, has sparked hope among investors.

The surge in network activity, with the number of daily active addresses increasing from 412,000 to 687,000 over the past four days, further supports the bullish outlook. The Relative Strength Index (RSI) and the Awesome Oscillator (AO) are also indicating bullish momentum, with the RSI attempting to break above the 50% mean level and the AO producing green histogram bars below the mean level. These signals suggest that buyers are attempting to push Ethereum higher, outlining investor interest and breathing hope into the incoming Golden Crossover.

The key resistance level for Ethereum is at $2,738, with a potential breakout to $3,000 if the bullish momentum continues. Institutional interest in Ethereum is also on the rise, with BlackRock's $100 million purchase and Fidelity's $60 million in ETF inflows further outlining institutional interest in ETH. The four-hour RSI, which is stable above the 50 mean level, and the AO, which is above the mean level, are also supporting the uptrend.

Despite the optimism surrounding Ethereum, the altcoin market faces a complex set of challenges. Bitcoin dominance, institutional preferences, geopolitical tensions, and bearish technical indicators are all factors that could impact the growth of altcoins. However, the surge in Ethereum's network activity and institutional interest suggests that the cryptocurrency market is not immune to the broader economic turmoil and that there is still potential for growth in the sector.

Despite the prevailing negative sentiment driven by tariffs, a lot has transpired in the crypto landscape over the past six months. Cryptocurrency enthusiasts have not witnessed the kind of 2025 they expected. The unexpectedly high tariff rates and prolonged negotiations have left many predicting that an altcoin bull run might not materialize. But is this really the end?

When examining the situation of altcoins against the BTC pair, what is evident is a continual descent to deeper lows. The uncertainty bred by tariffs has significantly hampered U.S. goods sales. Furthermore, the recent statements by the World Trade Organization highlight a notable dip in trade growth. These factors contribute to the overall confusion.

Analogous to the voices during November 2022 when the world’s second-largest cryptocurrency exchange went bankrupt, declaring the demise of cryptocurrencies, such voices have resurfaced. In the past, these same figures ignited enthusiasm with Trump’s election victory or ETF approvals, and it is likely they’ll do so again soon because BTC has managed to stay at six-digit levels despite adversities. The tariff issue is anticipated to conclude by July.

An analyst, known by the pseudonym Thecryptolord, shared a graphic for those claiming the end of the altcoin season, writing these remarks. “Reevaluate the influencers you follow. Those who preach daily that ‘Altcoins are over’ lack the impact or genuine data-backed belief, and are unlikely to play in the long-term game.”

Focusing on ZIG Coin, Fella anticipates a breakout on the bull flag and predicts a higher peak above $0.15. Multiple altcoins could now initiate a comeback from their lows.

BTC rests near the $107,000 mark, and positive news arrives alongside the negative. More companies are establishing cryptocurrency reserves. Just yesterday, there was a directive for including cryptocurrencies in mortgage considerations. This week, MSTR made another BTC purchase, with Trump’s company gearing up for more. Meanwhile, another entity is set to accumulate $1 billion in BNB, and a Tether executive embarks on a fundraising tour for a $1 billion BTC reserve. This all points to this season being marked as a ‘crypto bull run triggered by institutional demand surge’, which tariffs cannot overshadow.

Mister shared the following chart, noting the approach of a parabolic rise. “The price is around $107,000, and long-term investors keep accumulating, just like before the leap from $60,000 to $106,000. Bitcoin is on the brink of a parabolic rise!”