Ethereum Surges 4.5% to $1,980 on Circle Approval and ETF Inflows

Ethereum's price surged 4.5% on July 27, reaching $1,980 on Bitstamp and putting it within striking distance of the $2,000 mark.

The rally was fueled by Circle's OCC approval and $104 million in ETF inflows, which helped liquidate $113 million in short positions on Coinglass.

Despite this momentum, some technical analysts caution that ETH could dip to $1,300 before building towards a long-term target of $3,950.