Ethereum (ETH) today broke through the key resistance level of $4,200, with a 24-hour increase of up to 7.84%, reaching a new high in nearly 44 months. This strong surge is mainly attributed to three factors: large-scale inflow of institutional funds, a significant increase in demand for spot ETFs, and short sellers being forced to cover their positions.



Market data shows that over the past day, the liquidation amount of ETH short positions exceeded $183 million, fully reflecting the current strong bullish sentiment in the market. At the same time, the U.S. spot Ethereum ETF continues to attract net inflows of funds, and multiple companies are accelerating the accumulation of ETH reserves, all of which provide strong support for the ETH price.

From a technical analysis perspective, ETH has successfully broken through the triangular consolidation pattern formed over the years, and is expected to challenge the historical high of $4,868 in the short term. It is noteworthy that some market analysts hold a more optimistic view, predicting that ETH may reach the $10,000 mark by the end of the year.

However, investors should still approach such aggressive predictions with caution, closely monitor market changes, and manage risks appropriately. With the continuous development of the Ethereum ecosystem and the ongoing participation of institutional investors, the long-term growth prospects for ETH remain promising.
ETH1.49%
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ChainDoctorvip
· 08-09 10:48
Bull run is just starting, starting from thirty thousand.
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StableNomadvip
· 08-09 10:46
statistically speaking... deja vu of 2021 bull run
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MemeEchoervip
· 08-09 10:23
Full Position Newbie, extinguished
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