Ethereum Surges 9% in Five Days as Institutional Demand Drives Bullish Trend

Ethereum (ETH) has recently surged past the $3,000 mark, sparking optimism within the market. Currently trading at $2,969, ETH has shown a sustained breakout with high volume and bullish indicators. This upward trend follows weeks of steady gains, leading many to speculate that the Crypto Summer season may have officially begun.

Despite a 0.41% loss in early weekend trading, the overall trend for ETH remains bullish. The cryptocurrency has seen a 9% increase over the past five days, outperforming most altcoins. This momentum is not merely a short-term spike but is driven by institutional demand and growing confidence in Ethereum’s long-term prospects.

A significant catalyst for this momentum is the $25.72 million private over-the-counter (OTC) deal between the Ethereum Foundation and SharpLink Gaming. The esports marketing firm purchased 10,000 ETH at $2,572 per token, bringing its total holdings to over 215,957 ETH, valued at over $600 million. SharpLink’s CEO, Joseph Lubin, emphasized that the purchase is part of the company’s long-term strategy rather than speculative trading. The Ethereum Foundation chose the OTC route to avoid market disruption, as open market sales can heavily impact the price.

Institutional confidence in Ethereum is further bolstered by the significant inflows into U.S. spot ETH exchange-traded funds (ETFs). At the end of last week, these ETFs saw their second-largest daily inflow of $383.1 million. The total five-day inflow is $851.73 million, with total inflows exceeding $5 billion ahead of their one-year anniversary on July 23. BlackRock’s ETHA alone drew in $300.93 million in a single day. These ETFs are not only absorbing supply but also helping ETH find price stability in a volatile market. Since Ethereum’s 2022 proof-of-stake transition, supply has been dwindling. Over the last nine trading days, ETF inflows have outpaced ETH supply, creating a supply squeeze.

From a technical perspective, Ethereum’s price prediction appears bullish as it has broken out of an ascending channel since March. The daily Relative Strength Index (RSI) is at 72, indicating strong momentum but overbought conditions. There are no reversal candles yet, suggesting that bulls are still in control. The entry point for ETH is at $2,864, with a stop-loss below $2,700. The targets are set at $3,126 and then $3,432. A bullish engulfing or hammer candle at support would provide additional confirmation for dip buyers.

With crypto conferences and ETF milestones in July, many analysts see this as the start of Ethereum’s next leg up. The growing institutional trust and the supply squeeze created by ETF inflows are likely to drive ETH prices higher in the coming months. The market’s optimism is further fueled by the belief that this is more than a short-term spike, but a reflection of long-term confidence in Ethereum’s ecosystem and its utility across Web3, DeFi, and tokenization.