Ethereum Surges on Spot Buying Demand

Ethereum's recent price action has shown a significant shift towards spot buying, according to Bitfinex. This surge in spot buying has pushed Ethereum's price to around $1,880, which is a level not seen since May.

The current market environment appears healthier, with stable funding rates despite rising prices. However, traders are advised to remain cautious as this trend is still nascent and not yet confirmed.

The recent two-day ETF run has contributed to Ethereum's price increase, but analysts suggest that a shift above the critical $1,900 level could indicate stronger bullish sentiment.