Ethereum ( ETH ) price prediction: ETF inflows surpass Bitcoin, can ETH break through the previous high and start a new bull run?

Ethereum (ETH) is currently experiencing strong momentum, driven by robust capital inflows into Spot ETFs, bullish on-chain data, and significant purchases by institutional giants. The price of ETH has performed strongly, successfully breaking through key resistance levels. The market's focus is on whether ETH can maintain its rise and challenge historical highs. This article will analyze the current market trends and future price predictions for Ethereum by examining changes in ETF Holdings, trends of new on-chain users, the heat of the derivation market, and technical indicators.

【ETH Spot ETF Fund Inflows Crush Bitcoin】 According to Arkham Intelligence data, Ethereum spot ETF fund inflows have recently significantly surpassed those of Bitcoin spot ETF. In the comparison of single-day fund inflow data, ETH products recorded an astounding $461 million, while BTC products were at $404 million. This reversal in fund inflow trend signifies a strong increase in Wall Street institutions' willingness to allocate to Ethereum.

[Institutional Giants Aggressively Accumulate ETH] This wave of inflow into Ethereum Spot ETFs is primarily driven by top financial institutions: global asset management leader BlackRock purchased $250 million worth of ETH in a single day; Fidelity followed closely, increasing its position by $130 million; Grayscale also added $60 million. This can be considered one of the strongest institutional single-day buying surges in the Ethereum market this year, providing solid bottom support for ETH prices.

【On-chain New User Influx and Increased Confidence Among Holders】 Glassnode's on-chain data shows that the Ethereum network is experiencing a significant increase in new users, with a surge in the number of addresses purchasing ETH for the first time and a spike in momentum traders (those who chase trends). This has driven up the demand for new funds. More critically, the number of "conviction buyers" is also on the rise—these investors are willing to increase their cost basis even at high prices, demonstrating their deep confidence in the long-term value of ETH and stronger market sentiment. The combination of this fresh capital influx and the steadfast belief of long-term holders could lay the groundwork for a more vigorous upward trend in ETH, provided that buying pressure continues.

(Source: Glassnode)

【ETH Derivation Market Heat Rises, Price Approaching Breakthrough Range】 Currently, the Ethereum derivation market is active, with an Open Interest of $51.61 billion, nearing its peak level for the year, indicating strong market expectations for ETH's future price fluctuations. Technically, despite a slight pullback, ETH's price trend remains strong. At the time of writing, ETH is trading at $4,190, firmly above the 9-day and 21-day Exponential Moving Averages (EMA). Key momentum indicators also support a bullish view: the Relative Strength Index (RSI) is at 69.8, close to but not yet in the overbought zone; the Moving Average Convergence Divergence (MACD) remains in a solid positive zone. Currently, ETH's price is less than $700 away from its all-time high (ATH) of $4,891, and its current technical structure suggests that it is highly likely to challenge its previous high this year, potentially even entering a price discovery phase.

(Source: TradingView)

[Conclusion: Previous Highs in Sight, Beware of Short-term Profit-taking] Ethereum has shown strong upward momentum driven by the massive inflow of funds from ETFs, increased on-chain demand, large-scale institutional accumulation, and bullish sentiment in the derivatives market, significantly increasing the possibility of challenging historical highs. However, investors should also be aware that as prices approach key resistance levels, the emergence of short-term profit-taking may temporarily suppress the rise, causing market fluctuations. Whether a decisive breakthrough can be achieved and a new bull market opened depends on the sustainability of institutional fund inflows and whether the overall market risk appetite can be maintained. The future market trend of ETH is worth high attention from crypto investors.