Record-Breaking Ether ETF Inflows Despite Price Decline
Despite the holiday illiquidity, Ether ETFs set a new monthly record in December, supporting analyst anticipation of an impending rise. According to data from Farside Investors, the $2.1 billion in inflows in December are almost twice as much as the $1 billion total net inflows that the ETH ETFs saw in November.
Five months after going live on July 23, 2024, ETH ETFs had cumulative net inflows of over $2.5 billion on December 24, according to Cointelegraph. Ether is still on a downward trend despite the record inflows. According to CoinMarketCap data, the price of ether is currently trading at $3,352, down 7.71% on the monthly chart.
However, some traders are taking advantage of Ether’s decline. A shrewd cryptocurrency trader who took a short position on Ether, which essentially bets on its price drop, was up more than $1.1 million on his 50x leveraged Ether position in just two days. In addition to supporting the forecasts of asset management behemoth VanEck, which projects a $6,000 ETH cycle peak in 2025, increasing ETF inflows is a positive indication for Ether’s price trajectory over the coming year.
Ethereum’s Path to $4,400: Analyst TMV Predicts Q1 2025 Surge
The second-largest cryptocurrency in the world still faces strong opposition at the $3,500 price level. According to CoinGlass statistics, a possible Ether surge above $3,500 would clear off a total of more than $1 billion in leveraged short bets on all cryptocurrency exchanges. Ether’s price is now trading below its previous all-time high of around $4,800, which was set on November 16, 2021. In a Dec. 28 X post, well-known cryptocurrency expert TMV stated that Ether has begun an accumulation wave based on technical chart patterns, which could enable the price of ETH to surpass $4,400 during the first quarter of 2025.
Wave 5 accumulation is happening. Even if it sweeps one more time I will buy. Heavy target $4,400.
TMV
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