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2d ago

Ethereum Soars Past $4,500 on Record ETF Demand as Bitcoin Nears Peak

Softer-than-expected U.S. CPI boosted rate-cut odds, spurring record ETH ETF inflows by asset managers alongside ramped-up corporate treasury acquisitions.

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Overview

  • Spot Ethereum ETFs recorded $1.02 billion in a single day of inflows, lifting ETH above $4,600 for the first time since 2021.
  • Corporate treasury firms such as BitMine Immersion and SharpLink Gaming announced multi-billion-dollar ETH purchases, reducing available supply.
  • Bitcoin briefly topped $122,000 on high spot-ETF demand before profit-taking drove it back to around $119,000–$121,000 amid CME futures gap concerns.
  • July’s U.S. CPI data came in cooler than expected, sharply raising the probability of Fed rate cuts and bolstering risk-on flows into crypto.
  • Derivatives-driven volatility has triggered over $550 million in liquidations, creating CME futures gap retracement risks that could test the rally.