ETH’s Price is Playing Hard to Get

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Ah, Ethereum, the ultimate tease. It’s like that one friend who always promises to meet up, but never actually shows up. Despite a whopping $907 million in ETF inflows, Ethereum’s price action is still playing hard to get. 🤑

The Ethereum ETF: A New Kid on the Block

It’s not all about Bitcoin anymore, folks! The Ethereum ETF has finally stepped into the spotlight, and it’s making waves. Over the past week, it’s attracted a staggering $907.99 million in inflows. That’s like, a lot of money. 💸

And let’s not forget the 10th of July, when it saw the highest single-day inflows of $383.10 million. I mean, who needs a summer fling when you can have a summer of Ethereum ETF inflows? 😎

But wait, there’s more! Bitcoin ETFs are still going strong, with a two-day streak of $2.21 billion in inflows. It’s like a never-ending game of ETF-inflow- limbo – how low can the numbers go? 🤹‍♀️

The Community Reacts

Anthony Sassano, host of “The Daily Gwei Refuel” podcast, had this to say:

“The Ethereum network produces ~2,200 net new ETH per day. Yesterday, ETFs bought 138,000 ETH.” 🤯

Meanwhile, Nate Geraci, ETF Store President, was over the moon about Bitcoin ETFs’ record-breaking inflows:

“Another $1+bil into spot bitcoin ETFs…*$2.7bil* for the week. Since Jan 2024 launch, there have been 7 days of inflows > $1bil. 2 of those are in past 2 days.” 🚀

The Price Action: A Party Pooper

So, with all this excitement, you’d think the price action would be, well, exciting. But nope! It’s like the party’s over, and everyone’s gone home. 🎉

At press time, Bitcoin was trading at $117,948.54, down 0.60% in the past 24 hours, while Ethereum was trading at $2,961.45, down 0.37% in the same period. It’s like they’re trying to rain on our parade. ☔️

But don’t worry, folks! Technical indicators are still looking bullish. The Relative Strength Index (RSI) for both Bitcoin and Ethereum is sitting above the neutral 50 mark, which means buying pressure is still strong. 📈

So, it seems the recent pullback might just be a minor setback. 🤞

What’s Next for BTC and ETH?

According to AMBCrypto’s forecasts and market data, both Ethereum and Bitcoin could be on track to reach new all-time highs. 🚀

Analyst Ken Teng, aka Chicken Genius, thinks ETH could climb to $4,000 in the near future. Meanwhile, analytics firm Ecoinometrics believes strong demand for ETFs might propel BTC to $119,000. 🤑

So, there you have it, folks! The Ethereum ETF is making waves, but the price action is still playing hard to get. 🤔 But with technical indicators looking bullish, it’s likely just a matter of time before things start looking up. 🌟

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2025-07-13 15:13