Crypto
Ethereum's Price Hovers Around Key Resistance Level Amid Strong Institutional Flows
Ethereum's price is currently sitting at $2,522 after a modest daily gain. However, it remains below its short-term moving average but above both medium- and long-term trend averages.
US spot Ethereum ETFs saw significant inflows of $216.4 million on September 11, with BlackRock's ETHA accounting for $148.8 million of that total. The aggregate Ethereum ETF inflows for the week reached $196 million.
The surge in institutional flows is evident as both ETFs and whale activity have increased post-CPI release. Whale transactions exceeding $1 million rose 14% following the US CPI announcement, reflecting heightened whale-driven flows in response to macroeconomic data.