Ethereum continues to show growth, reaching an all-time high of $4,869.72. This has been made possible by signals of interest rate cuts from the Federal Reserve and increasing interest from institutional investors.
Impact of Fed Rate Cuts on Ethereum
The signals for a possible interest rate cut in September from the Federal Reserve have acted as a catalyst for Ethereum's growth. As a result, the derivatives markets have seen increased activity and open interest.
Growth of Staking and Its Implications
Staked Ethereum on Lido and Rocket Pool has exceeded 32 million ETH. This reduces circulating supply of ETH and supports its price appreciation, while whale accumulation is also observed.
Current Technical Situation and Forecasts
Ethereum's current price is consolidating above the $4,800 support level. A breakout above the $5,000 level could lead to further gains toward the $5,200–$5,500 range. However, should momentum weaken, retracements to the $4,600 support may occur.
Ethereum shows strong performance amid positive macroeconomic signals and increasing interest from institutional investors. The current situation may serve as a launchpad for further price growth.
