Ethereum Price- Strong Spot Demand Supports Ethereum’s Rapid Recovery
Ethereum Price– June is only halfway through, yet Ethereum (ETH) has already faced two sharper corrections compared to Bitcoin (BTC), each time experiencing double-digit pullbacks during waves of market-wide fear and uncertainty. However, as AMBCrypto notes, these moves aren’t random — they seem to represent a deliberate reset, potentially setting the stage for renewed momentum.
Spot Demand Strength Amid Futures Cooling
Ethereum started June with a significant 10.77% dip, dropping to around $2,393 midweek, while Bitcoin fell 4.44% from its $105,000 resistance level. What followed was a strong rebound: ETH surged 20.3% off the lows, outpacing Bitcoin’s 10.03% recovery during the same period. This relative strength underlined Ethereum’s robust structural support.
A similar pattern emerged during another round of market-wide FUD triggered by geopolitical tensions. Bitcoin slid 7% to $102,832, while Ethereum saw a sharper 14.9% pullback to $2,441. Yet this decline was driven largely by heavy futures deleveraging rather than spot market weakness. Notably, ETH has quickly regained more than half of that loss and trades near $2,619 at the time of writing, demonstrating sustained underlying demand.
Futures Metrics Highlight Resilience
Ethereum’s futures market data further illustrates its strength. Despite recent liquidations, Open Interest has bounced back by 5% to $36 billion, and funding rates remain solidly positive — a sign of bullish sentiment. Additionally, the Estimated Leverage Ratio (ELR) is climbing again after a recent dip, indicating leverage is returning and traders are rebuilding positions rapidly.
Supported by firm spot demand, Ethereum is currently outperforming Bitcoin, gaining 3.55%, and echoing the strong recoveries seen after previous liquidation cycles.
In essence, these cycles have helped Ethereum reset higher and build stronger support levels, potentially setting the stage for a parabolic price move. If this momentum holds, reaching $3,000 could mark just the beginning as we move deeper into Q3.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
