In July, the Ethereum (ETH) mutual fund market showed a significant influx of capital, suggesting a growing interest from institutional investors. The level of inflow and its connection with global economic factors have become topics of discussion among analysts.
ETH ETF Inflows
Analytical account Cipher X reports that during July, there was a recorded net inflow of $1.6 million into Ethereum Spot ETFs. This level of demand exceeds previous notable inflows, which were $630,000 in December of last year.
Connection with Global Liquidity
According to trader Merlijn, Ethereum is moving in sync with the M2 global liquidity. Recent data indicates that M2 liquidity has reached a new high, signaling an increase in the money supply. This instills optimism and suggests a potential continuation of Ethereum's growth against macroeconomic factors.
Key Support Levels and Price Movements
Technical analysis from Ali_charts shows that the current Ethereum price sits above key support levels at $2,924 and $2,750. These levels may act as safety nets in the event of price pullbacks. At the time of writing, Ethereum is trading at $3,539.85, up 2.73% over the last 24 hours.
The recent market dynamics of Ethereum, showcasing significant fund inflow into ETFs and synchronization with global liquidity, may indicate positive changes. However, it is crucial to consider the key support levels that might play a vital role in future asset price movements.
