Recent days have seen significant interest in Ethereum and its ETFs, indicating increased activity from institutional investors in the cryptocurrency market.
Inflows in Ether ETFs
On Wednesday, US Ether ETFs recorded a record net inflow of $720 million, marking the highest level since a previous record of $428 million set on December 5, 2024. BlackRock's ETHA led the influx with $489 million, while Fidelity's FETH added $113 million. Currently, US Ether ETFs hold over 5 million ETH, accounting for more than 4% of ETH's circulating supply.
Altcoin Growth and Bitcoin Dominance Shift
The influx of funds comes as altcoins gain popularity. Analysts note that declining Bitcoin dominance often signals a rotation of interest toward altcoins, which could support the current rally. Increased institutional accumulation of Ethereum and substantial inflows indicate investor confidence in its potential.
Current Prices and ETH Technical Analysis
At present, ETH is trading above $3,400, representing an 8% increase over the past 24 hours. Technical analysis shows overbought market conditions; however, strong RSI levels confirm the existing bullish trend. If positive momentum continues, ETH may reach the nearest resistance level around $3,425. Meanwhile, immediate support lies at $3,100.
The surge in inflows to Ether ETFs and the confidence of institutional investors highlight positive prospects for ETH and altcoins, especially if the trend of declining Bitcoin dominance persists.
