Ethereum Surges Past $2,500 Amid Strong Institutional Buying and Short Liquidations

Ethereum (ETH) has surged to its highest level since mid-January, reaching $2,520. This rally came alongside strong institutional buying and a wave of short liquidations totaling $1.69 billion over three days.

The surge in ETH was accompanied by significant inflows into US spot Ethereum ETFs, which pulled in $697 million last week, reversing the previous week's outflows. BlackRock's ETH fund leads all spot Ethereum ETFs with $7.8 billion in assets, and total assets across all US spot ETH funds now stand at $14.2 billion.

Analysts have set a near-term price target of $2,750, with $3,000 as the key psychological level. This is based on the assumption that Ethereum will reclaim the $2,400 level and maintain momentum through a weekly close above $2,450.