Ethereum (ETH) prize experienced a similar volatility such as Bitcoin (BTC) in the last 24 hours, after the feud between Elon Musk and US President Donald Trump. The large Cap Altcoin, with a completely diluted valuation of around $ 300 billion and a 24-hour average trade volume of around $ 18.5 billion, recovered from a crucial support level of around $ 2,407 in the last 24 hours to trade around $ 2,478 on Friday, during the Late-American trade session.
However, the recent crypto -rebound caused the fears for a potential dead cats bouncing. Moreover, the feud between Trump and Musk can continue to distribute the crypto market.
BlackRock Leads in Ethereum Accumulation
According to data analysis in the chain, BlackRock has gradually shifted his focus from Bitcoin to Ether in recent days. In the past week, BlackRock’s Etha recorded a net cash inflow of more than $ 492 million to currently have around $ 4.84 billion in cumulative net cash inflow at the time of this letter.
The gradual crypto-continuous rotation from Bitcoin to Ethereum has fueled the story of the long-awaited Altealth season 2025. Moreover, the ETH/BTC purple has fallen in recent years until recently, which indicates an important shift from institutional investors to the Altcoin market.
What for ETH price now?
Since the outbreak of an established falling trend line in the first quarter, the ETH price has been a rising trend that is characterized by higher highlights and higher lows in the lower schedules. In recent weeks, however, the Altcoin has consolidated in a tight reach between $ 2,400 and $ 2,679.
From a technical analysis perspective, the price of Ether is well positioned to collect above $ 3K if the buyers succeed in pushing the Altcoin above $ 2,679 in the coming weeks. However, a consistent near $ 2.4k will signal a further bearish sentiment in the short term to $ 2.2k.
Credit : coinpedia.org
