Ethereum Price Prediction: $38.7M ETF Boost Sends ETH Past $1,800

This ends an 8 week streak of outflows that drained $910 million from Ethereum ETFs. Most of the new money went into Fidelity’s FETH which saw $32.65 million, Bitwise’s ETHW saw $6.09 million. The other funds were flat, so it’s not a broad sector rebound.

Since inception, these ETFs have now seen $2.26 billion in inflows, despite regulatory uncertainty and market volatility.

ETH Price Rises Above $1,700

Ethereum’s price is following the ETF flows. On April 23, ETH rose above $1,800, up 14% in 2 days, its biggest move in weeks. It followed a 10% gain on Tuesday and is now above $1,700 for the first time since April 6.

Several factors contributed to this:

• US Treasury Secretary Scott Bessent said tariffs with China may ease.

• Investor concerns about the US dollar’s stability with the political turmoil.

• Paul Atkins confirmed as new SEC chair, seen as more crypto friendly.

All of this has rekindled bullish sentiment not just for Ethereum but for the entire crypto market.

Crypto Market Rises

Bitcoin also made headlines, breaking $90,000 and rising to $93,385, restoring the total crypto market cap to over $3 trillion. BTC is up 13.6% in April, outpacing traditional hedges like gold which is up 6.7%.

Key metrics:

• Ethereum up 13.73%

• Bitcoin up 6.34%

• S&P 500 and USD Index down ~5%

If ETH gets above $2,000 and makes a higher high, analysts say it could go up more. Ash Crypto says ETH’s current setup looks like Bitcoin’s 2024 setup, but others say if it can’t hold momentum this will be a short lived bounce.

In short, the ETF flows show increasing confidence but will need technical breakouts and macro stability.