Ethereum ETF inflows hit $189M as ETH breaks above $2,000

Ethereum rallied above $2,000 on the back of multiple supporting factors. Spot ETFs accumulated $189.15 million in the hours before the move—the highest single-day total in ten months. BlackRock, Fidelity and Grayscale led inflows with $122 million, $36.54 million and $16 million respectively.

A whale transaction coincided with the move. A newly created wallet deposited $20 million in USDC across three transactions on the Hyperliquid exchange, then opened a 4x leveraged long position of 20,000 ETH worth $45.38 million. The positioning sits with an unrealized profit of $6.66 million.

Technically, the move broke Ethereum out of a sideways accumulation pattern. Exchange holdings of ETH declined 15 percent over eleven weeks through mid-August, dropping from 7.70 million to 6.54 million coins as roughly 1.15 million ETH left exchanges. The asset had hinted at a bottom in early June at $1,549 and formed a double-bottom with neckline resistance at $1,800, which it has now cleared.

Large transaction counts nearly tripled in a single day, rising from 2,690 to 6,910. Bull/Bear Power reached its highest level of the year. Market observers suggest $2,500 represents the next critical zone—the most recent lower high in the existing bearish structure. If bulls sustain momentum past that level and convert it to support, Ethereum could enter a mid-term uptrend. Failure to hold $2,500 could trigger a reversal, though such an outcome is viewed as less probable given current momentum.