Ethereum Price Prediction: Bullish Pattern Emerges as ETF Inflows Accelerate

Ethereum (CRYPTO: ETH) price briefly surged to its highest level since January 31, as the crypto market remained resilient amid the escalating crisis in the Middle East and rising odds that the Federal Reserve will cut interest rates next week. ETH has formed key bullish patterns, pointing to further upside as ETF inflows rise.

Ethereum ETF Inflows Rise Despite Elevated Risks

ETH price rose briefly above a crucial resistance level as American investors continued their buying spree. Spot Ethereum ETFs had $216 million in inflows on Friday, bringing this month’s increase to over $327 million. 

BlackRock’s ETHA ETF added over $148 million in assets on Friday, bringing its assets under management to $9.1 billion. Bitwise’s ETHW had $29 million in inflows, while BlackRock’s ETHB added $18.3 million. These funds now hold over $16.3 billion in assets under management.

More data shows that investors are continuing to buy ETH. Ethereum’s staking ratio has jumped to 35.2%, with the staking market capitalization has jumped to over $109.47 billion. Over 43.11 million tokens have been staked. This is important since investors who have staked their tokens tend to have a long-term view. 

Tom Lee’s BitMine (NASDAQ:BMNR) has continued buying Ethereum and is now nearing its 5% target. It has bought 123,960 coins in the last 30 days and now holds over 5.92 million coins. All Ethereum treasury companies now hold coins worth over $20 billion.