Ethereum News Today: Ethereum Rebounds Above $3,600 as On-Chain Metrics and ETF Inflows Drive 2.6% ETH/BTC Gains

Ethereum’s price rebound above $3,600 has reignited optimism among analysts, who highlight on-chain data suggesting the cryptocurrency may avoid a deeper correction after briefly dipping to $3,500 in early Asian trading hours [1]. The recovery aligns with broader market sentiment, as Ethereum-based ETF flows continue to reinforce price stability despite a 9% decline from seven-month highs earlier this week [2]. On-chain metrics, including the ETH/BTC exchange inflows ratio, indicate “lower selling pressure” for Ether compared to Bitcoin, with the ratio remaining well below historically extreme levels [1]. This trend suggests reduced outflows to exchanges, a bullish signal for ETH’s relative performance [3].

Analysts note that Ethereum’s outperformance is further supported by the ETH/BTC ETF holding ratio, which has surged to 0.12 from 0.02 since May. This reflects growing institutional and retail demand for Ether over Bitcoin, with investors “gaining relatively more exposure to ETH at the margin” [3]. Spot Ethereum ETFs, now managing $16.6 billion in assets under management, have seen robust inflows, including a record $332.2 million on Wednesday. This contrasts sharply with Bitcoin ETFs, which have experienced $285.2 million in outflows over three days, underscoring a shift in investor preference [1].

On-chain data from Glassnode outlines critical price levels to monitor. A key support range between $2,000 and $3,000, defined by the realized price at $2,100, the true market mean at $2,500, and the active realized price at $3,000, is positioned to act as a “safety net” in case of a deeper correction [3]. Conversely, resistance at $4,500 remains a pivotal threshold, representing a one-standard-deviation push above the active realized price. Historically, this level has acted as a barrier during previous cycles, including in March 2024 and the 2020–2021 bull run [1]. Breakouts above $4,500 could signal heightened market euphoria but also risk overvaluation, according to analysts [3].

Short-term momentum hinges on Ether’s ability to maintain above $3,500 and test the $3,860 level, which could unlock a potential move toward $4,000. Traders are advised to watch for a retest of $4,500 as a key resistance, with success likely prompting further speculation-driven rallies [1]. The ETH/BTC pair has gained 2.6% in the last 24 hours, trading at 0.03139 BTC per ETH, reflecting Ethereum’s relative strength against Bitcoin [3]. However, sustained outperformance remains contingent on broader market conditions, including Bitcoin’s price action and macroeconomic factors like interest rate expectations [2].

While Ethereum’s fundamentals, including upcoming upgrades and institutional adoption, remain intact, analysts caution that volatility persists. The cryptocurrency must consolidate above $3,600 to solidify its support structure, with the $3,600–$3,700 range expected to serve as a battleground for near-term price direction [1].

Source:

[1] [Ethereum analysts see 'further upside' as ETH price reclaims $3.6K] [https://coinmarketcap.com/community/articles/688250482c129e186ade4022/]

[2] [ETHUSD - Ethereum analysts see 'further upside' as ... - ADVFN] [https://mx.advfn.com/bolsa-de-valores/COIN/ETHUSD/crypto-news/96492656/ethereum-analysts-see-further-upside-as-eth-pr]

[3] [Ethereum’s price has rebounded above $3,600, reigniting optimism ...] [https://cointelegraph.com/news/ethereum-analysts-further-upside-eth-price-reclaims-3-6k]