Institutional Focused
Ether Breaks $2,600 as Institutions Keep Buying Despite Middle East Turmoil
Ethereum surged past $2,600 on Monday, defying geopolitical unease in the Middle East as institutional interest remained firmly intact.
The token traded as high as $2,636.76 before paring gains slightly to around $2,614, up 3.7% in 24 hours. The move tracked a broader market rebound, with global equities and major crypto assets gaining ground despite escalating conflict between Israel and Iran.
Traditional markets brushed off war headlines, with the Tel Aviv stock exchange rising and gold giving back recent gains. Analysts say hopes for a contained conflict — rather than full-scale escalation — helped soothe nerves.
Ethereum’s price rally comes on the back of massive institutional inflows. CoinShares reported that ETH investment products drew $583 million in inflows last week, the most since February, with total inflows over the past nine weeks hitting $2 billion.
Meanwhile, open interest in ETH futures has reached 13.89 million ETH, worth roughly $36.3 billion, per CoinGlass — a sign that sophisticated market participants are positioning for upside.
Technical View:
- ETH broke past $2,550 resistance with volume surging over 311K ETH at 05:00 GMT.
- Support now appears firm around $2,575.
- Structure shows higher highs and higher lows, forming a textbook bullish continuation pattern.
