BlackRock's Alleged $1.5B Ethereum Purchase Drives Price Above $2,447

Ethereum's price remains bullish above $2,447, according to recent data. This level is the 0.5 Fibonacci mark that Ethereum cleared this week as it pushes toward the 0.618 Fib at $2,672 for the first time since January.

The Ethereum price has been driven up by institutional flows, reportedly supported by BlackRock's alleged purchase of $1.5 billion in ETH. If confirmed, this development could drive crypto adoption and boost DeFi and token market confidence.

Ethereum is trading near $2,664, up 0.76% today, pushing into $2,672, a level that's marked its ceiling since before this year's crash. Clearing this level would put Ethereum in territory it hasn't seen since January.