Record $6B Crypto ETF Inflows Hit in August

Crypto Exchange-Traded Funds (ETFs) have seen record inflows in August, totaling almost $6 billion. This surge is attributed to strong investment in Bitcoin and ETH spot ETFs during the month.

The price action of Ethereum on the four-hour chart shows it trading at $2439.08, maintaining a bullish structure above its EMA50 and EMA200 moving averages. The Relative Strength Index (RSI) remains neutral at 46.38, while the Moving Average Convergence Divergence (MACD) prints a death cross at -4.53.

The price of Ethereum is currently within the Bollinger Bands, testing upper resistance at $2505.68. This may lead to a pullback toward the EMA50 support level at $2423.3 before any further extension upwards.