Summary:
ETH is currently trading at $2018, down 1.59% in the last 24 hours. Institutional crypto products have experienced a surge in inflows, with Bitcoin leading the way with $312 million. Ethereum received $34 million, representing only 10% of the inflow. The struggle continues for Ethereum, as it attempts to retest its all-time high of $4,800, currently facing resistance at the $2088 mark.
Introduction:
Institutional crypto products have seen a significant increase in inflows, with Bitcoin dominating the market. This surge in investment is attributed to the anticipated introduction of a spot-based ETF for cryptocurrency. Meanwhile, Ethereum’s price has been fluctuating and faces challenges in retesting its all-time high due to intense selling pressure.
Main Points:
- ETH is trading at $2018, down 1.59% in the last 24 hours.
- Institutional investors have shown increased interest in crypto products, with Bitcoin receiving $312 million and Ethereum receiving $34 million.
- Ethereum struggles to retest its all-time high due to market uncertainty.
- If the price surpasses $2042, it may retest the $2088 resistance area, with further potential to reach $2100.
- If the price drops below $1967, it may decline further to test the $1916 support level.
Conclusion:
Ethereum continues to face challenges in retesting its all-time high, while institutional investors show increased interest in crypto products. Bitcoin leads the way in terms of investment inflows, with Ethereum receiving a smaller share despite its rivalry with Bitcoin for spot ETF approval in the US.