Crypto news

Ethereum to $3K: BlackRock’s Secret Move Could Shake the Crypto World!

BBG News

Key Takeaways:

  • Ether futures open interest has surged 40% in 30 days, while spot ETH ETFs marked four consecutive weeks of inflows. Yes, the future’s looking bright! Or is it?

  • ETH’s Gaussian channel indicator suggests a potential rally to $3,100 to $3,600. So, is the moon within reach? Hold your horses…

Ah, Ethereum—the token that never sleeps! For the past 30 days, it’s been happily bouncing between $2,300 and $2,800, almost like it’s too lazy to make up its mind. But now, folks, whispers in the market suggest that this phase of indecision might be drawing to a close. According to the 4-hour chart (don’t you just love how precise we are?), ETH is hanging onto the 200-day exponential moving average (EMA) for dear life. And it’s forming something called a “hidden bullish divergence” with the RSI. Sounds complicated? In short, it’s a sign that a trend could be lurking just around the corner. Will it break out? Who knows? But wouldn’t it be exciting if it did?

Let’s talk numbers—because that’s what we all care about, right? Ethereum futures open interest has jumped 40% from $26 billion to $36 billion in just 30 days. I know, it’s practically a party in the market, and no one’s bringing the cake. This shows that traders are getting more confident while the price does its best impression of a confused squirrel. It’s a pattern, though, a pattern that often precedes breakouts. I know, it’s almost like waiting for your toast to pop up while your coffee’s brewing.

Spot Ethereum ETFs Surge as BlackRock Continues to Buy

Well, look who’s making moves. The spot Ethereum ETFs have just hit their fourth week of consecutive net inflows, adding 97,800 ETH to their stash, pushing their total holdings to a respectable 3.77 million ETH. Yes, I know—these numbers are enough to make any crypto enthusiast break into a cold sweat.

Meanwhile, the big player, BlackRock, is quietly hoarding Ethereum like it’s the last piece of cake at a family gathering. With 1.5 million ETH under its belt, worth a cool $2.71 billion, the asset management giant is showing some serious commitment to the altcoin. Over the last 10 days, they’ve splashed out $500 million on ETH. And all this, despite Ethereum’s price still being 48% below its all-time high. Talk about timing! These guys must really know something the rest of us don’t.

CryptoMoon has also been spreading the word that Ether-based investment products are leading the pack in crypto ETP inflows. With $296 million pouring in last week, despite the market being as slow as a snail on a Sunday, Ether is still the cool kid at the crypto party. It’s the seventh week of inflows, and things are looking good. Who needs clarity from the US Federal Reserve when you’ve got Ether, right?

ETH is Back in the Gaussian Channel Midline

Okay, brace yourselves, because we’re about to get into some serious technical stuff. ETH is now above the midline of the Gaussian channel. Sounds fancy, doesn’t it? The Gaussian channel, for those of you who don’t spend your free time analyzing price charts (weirdos!), is a market trend indicator that adapts to volatility. You know, just your average everyday trend forecaster.

History has been kind to ETH when it crosses above this midline. I mean, just look at 2023, when ETH shot up by 93% to $4,000. That was fun, right? And in 2020, it skyrocketed by 1,820%. So yeah, it’s fair to say this thing has a history of surprise rallies. With ETH now hanging above the channel midline at $2,570, technical analysts are predicting that it could surge to $3,100 to $3,600 if the momentum holds. It’s like waiting for the next big season finale—will it live up to the hype? You won’t know unless you tune in.

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2025-06-10 00:39

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