Thomas Daniels
Ether futures open interest (OI) jumped ~40% in the past month—rising from $26 billion to $36 billion—signaling heightened speculative positioning ahead of a breakout, per CoinGlass data .
Spot ETH ETF inflows have continued unabated for four weeks, totaling an impressive 97,800 ETH and bringing AUM to 3.77 million ETH. This inflow streak, led by BlackRock’s iShares ETHA fund, reflects sustained institutional demand .
BlackRock’s accumulation strategy is notable—iShares ETHA now holds 1.5 million ETH ($2.71 billion), with fresh purchases totaling $500 million over the past 10 days, according to Arkham analysis .
Technical outlook: ETH continues to hold above its 200‑day EMA and displays a hidden bullish RSI divergence on the 4‑hour chart. Moreover, it has reclaimed the mid‑line of its Gaussian channel—a historically bullish setup (e.g. 93% rally to $4K in 2023)—suggesting a potential advance to between $3,100 and $3,600 .
Market context: ETH has been range‑bound between $2,300–$2,800 for a month. Yet alignment across derivatives positioning, ETF capital inflows, and chart structure signals a confluence likely to end this consolidation phase . With institutional sentiment intensifying, the $3K threshold may be within reach—assuming the breakout sustains.
