Ethereum's Golden Cross Sparks Bullish Reversal Hopes

The Ethereum (ETH) daily Market Value to Realized Value (MVRV) ratio has crossed above its 160-day Simple Moving Average, a 'Golden Cross' that signals the end of ETH's capitulation phase and the beginning of a bullish reversal.

This move is significant as it has preceded major ETH recoveries in the past three years. In early 2023, late 2023-Q1 2024, Q2 2024, and Q3 2024, the price of ETH surged by 50%, 166%, 74%, and 113% respectively.

Renewed institutional engagements are also supporting the bullish trend. The past week saw $103.9 million in spot Ethereum ETF inflows, bringing July's total net inflows to $337.74 million.