Ethereum Struggles to Break $2,500 as ETF Demand Battles Profit-Taking

Ethereum's price has been unable to sustainably break through the $2,500 level despite recent demand from US spot Ethereum ETFs. The token slipped 0.1% over the past 24 hours to around $2,485, while these funds recorded an eighth consecutive session of net inflows on Wednesday, adding roughly $192 million and taking the streak above $1 billion.

According to Coingecko, ETH was trading at $2,485.53 on Aug. 28, after the price moved as high as roughly $2,555 over the past 24 hours before sellers pulled it back below $2,500. Despite this, Ethereum remains up 6.2% over seven days and 32.1% over 14 days.

The repeated rejection of attempts to extend the rally does not coincide with a collapse in institutional demand, as the ETF inflow streak continued while ETH struggled around resistance. Futures positioning has also changed since the first leg of the recovery, with roughly 500,000 ETH of open interest removed during the week, reducing some of the forced buying that had helped the initial rally.