Ethereum Price Bounces to $1,919 as ETFs Attract Record Weekly Inflow

Ethereum's price has been holding above $1,918 after a modest rebound supported by improving sentiment across the broader cryptocurrency market. The ETH price soared to $1,919.25 as Ethereum extended its rebound and approached the $1,920 resistance zone.

The recent rise in Ethereum prices is preceded by a series of good weeks, with increased institutional demand after significant outflows in May and June. Weekly inflows included $105.44 million on July 17 and $103.90 million on July 24.

The Ethereum exchange-traded funds (ETFs) registered a record weekly inflow in almost four months, attracting $244.94 million this week. This has boosted cumulative net inflows to $11.46 billion and weekly trading value to $2.38 billion.