Ethereum Price Surges Past $2,700 Amid Bearish Sentiment

Ethereum's price climbed above $2,700 after investors defended its realized price level near $2,310, despite negative sentiment from the Clarity Act's failure and Federal Reserve rate hike.

The move indicates an upside bias among investors as they shrug off bearish sentiment. The Ethereum Exchange Netflow metric shows deposits into crypto exchanges have outpaced withdrawals over the past few days, suggesting potential for higher selling pressure.

However, the US spot ETH ETF recorded $143.8 million in net inflows on Friday, ending the week on a positive note. Similarly, the Coinbase Premium Index is trending upward again after days of declines.