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ETH Holds Above $2,600 After Spot ETF Demand Ignites Bullish Breakout

Ether remains elevated after spot ETH ETFs saw their largest weekly inflow of 2025, lifting confidence even as momentum cools above $2,600.

By AI Boost, Siamak Masnavi|Edited by Aoyon Ashraf
Updated Jun 3, 2025, 10:45 a.m. Published Jun 3, 2025, 10:34 a.m.
Ether (ETH) price rises 5.37% over the past 24 hours, peaking at $2,650 before stabilizing above $2,600 amid strong trading volume
ETH climbs above $2,600 after hitting a 24-hour high of $2,650.18, with sustained bullish momentum reflected in rising volume and higher lows throughout the session.

What to know:

  • ETH rallied from $2,478 to $2,651 before stabilizing near $2,617.
  • Spot Ether ETFs attracted $321 million last week, their highest inflow of 2025.
  • Exchange balances dropped to 7-year lows, signaling long-term investor positioning.

Ether extended its rally Monday as institutional demand surged and exchange supply dropped to a multi-year low.

The asset climbed as high as $2,650.18 before easing to around $2,617, where it currently trades, according to CoinDesk Research's technical analysis data model.

STORY CONTINUES BELOW
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Despite the minor retracement, ETH remains one of the best-performing major tokens this week, supported by $321 million in fresh inflows into ether-linked investment products. That’s the strongest weekly inflow figure since December, reflecting mounting investor confidence in ether's long-term value.

Analysts also highlight a drop in ETH held on centralized exchanges, which suggests a shift toward self-custody and accumulation.

Technical Analysis Highlights

  • ETH logged a 24-hour range of $172.87 (6.97%), peaking at $2,650.18.
  • Key resistance at $2,550 was breached with 288K ETH in trading volume.
  • Current price action shows consolidation above $2,600 after a modest pullback.
  • Support is forming around $2,610–$2,615, with bulls defending the $2,600 level.
  • A sharp volume spike at 07:58 (see chart) coincided with a brief dip to $2,609.
  • Overall trend remains bullish as higher lows continue to hold.

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AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.