Ethereum Nears ATH as ETF Inflows and Macro Tailwinds Point to Further Upside
I see the recent crypto rally as being led by Ethereum: a 10% daily gain, record spot ETH ETF inflows and rising corporate treasury allocations signal concentrated demand as ETH approaches its November 2021 high.
Macro dynamics are supportive — mixed CPI reinforced expectations for a September 25bp Fed cut — which is easing rate-risk and helping risk assets. Bitcoin is consolidating below resistance, while ETF flows and institutional adoption continue to underpin broader market momentum.
Near-term risks remain from upcoming PPI, retail data and the Jackson Hole symposium, so I expect volatility around those events, but the flow and technical setup point to continued upside for ETH if macro conditions stay favorable.
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