Ethereum Surges 3.98% as ETF Inflows Top $1 Billion

Ethereum has entered a potentially critical phase as multiple signals point to growing bullish momentum. In the past few days, trading behavior, options activity, and ETF inflows have aligned around a possible move past the $2,800 resistance level.

While price swings remain, institutional interest appears to be firming up. Traders are cautiously optimistic, looking for stronger confirmation before fully positioning for a breakout. Market structure and short-term technical data suggest this could be a pivotal week for ETH.

Glassnode reported a sharp change in Ethereum’s options skew, noting increased demand for short-dated calls. The 1-week skew fell from -2.4% to -7.0%, while the 1-month skew shifted from -5.6% to -6.1%. This drop indicates rising interest in upside protection, a potential sign of positioning for a near-term price rally.

However, Alva offered a contrasting interpretation, suggesting that the deepening negative skew reflects a risk-off sentiment. According to their analysis, large players are focusing on protective puts rather than chasing immediate gains. Nearly 92% of current open puts are below $2,700, which implies that traders are preparing for volatility, not necessarily a breakdown.

Ethereum ETFs have recorded consistent inflows over the past two weeks. Since May 16, ETH-related exchange-traded funds pulled in over $1 billion. On a single day alone, investors added $125 million. This pattern of 17 straight days of inflows supports the case for sustained institutional accumulation. Analysts believe this trend could turn the $2,800 to $3,000 level into a springboard if sentiment stays positive.

Price action shows that Ethereum continues to face rejection near $2,800. Momentum has slowed, with MACD remaining bearish and no strong breakout confirmed. Traders are watching closely to see if this ceiling can be cleared. Despite that, Crypto Patel suggested Ethereum bounced cleanly from a bullish order block, a level historically linked with large price rallies. If resistance breaks, some projections place the upside potential above 400%, though near-term caution remains.

At press time, Ethereum trades at $2,854.70, after rising 3.98% in the past 24 hours. Weekly gains stand at 7.06%, with the 24-hour price range moving between $2,735 and $2,870. However, trading volume has dropped 6% from the previous day, suggesting that while buyers remain active, overall market participation has thinned. This slowdown could signal consolidation before the next move, as traders await clearer signals from the options market and ETF demand.